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US: The pressure’s on to knock-out patent trolls

By  |  March 15, 2013
US: The pressure’s on to knock-out patent trolls

The Federal Trade Commission and the Department of Justice are weighing how to make their next move as lawyers for the nation’s largest corporations are pressuring authorities to initiate legal action against patent trolls. Millions of dollars are reported each year as spent by companies defending themselves against patent lawsuits brought on by patent trolls, who buy patents for the sole purpose of owning their rights and being able to file infringement suits or require licensing fees. Supporters of those patent companies, however, argue that they maintain the value of a patent and are beneficial to smaller investors. Arguing that patent companies restrict competition, however, major corporations are now turning towards the government to take action. The FTC and the DOJ held a joint workshop on the matter last December and will be accepting public feedback into April.

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