A PYMNTS Company

US: White House gears up against patent trolls

By  |  June 4, 2013

President Barack Obama announced Tuesday plans for the White House to take action against so-called patent trolls, company that hold patents and profit from damages and licensing fees despite not actually manufacturing products. According to reports, Obama was set to reveal five executive actions along with seven legislative proposals aimed at combating what critics call the anticompetitive entities. The plans include legislation that will allow courts to sanction patent collecting companies whose lawsuits are determined to be abusive and anticompetitive. The announcement comes on the heels of the End Anonymous Patents Act, legislation introduced in the House of Representatives in May and intended to heighten transparency concerning the ownership and transfer of ownership of patents.

Full Content: Computer World

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.