A strong and sensible patent system “is essential...
A strong and sensible patent system “is essential for American innovation leadership,” said Michael Petricone, CEA senior vice president-government and regulatory affairs, in a statement on our report that several patent assertion entities (PAEs) plan to start the IP Rights…
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Council to protect their interests in Washington amid a rising number of legislative efforts to curb patent abuses (CD Sept 24 p7). “Unfortunately, some parties are abusing the system, employing bad patents and frivolous litigation threats to force settlements from non-infringing innovators,” Petricone said. “These frivolous suits force innovators to funnel resources and focus away from R&D and other essential operations, and, at worst, force them to close their doors altogether.” If the PAEs in the IP Rights Council “wish to be seen as legitimate actors, they will join in the fight to crack down on trolls whose irresponsible litigation and extortionate behavior is harming the patent system, consumers and the U.S. economy,” Petricone said.