CPF Statement Supporting the “Patent Abuse Reduction Act of 2013”
FOR IMMEDIATE RELEASE: May 22, 2013
WASHINGTON, D.C. – The Coalition for Patent Fairness (CPF) thanks Senator Cornyn for his leadership in confronting the problem of abusive patent litigation through the introduction of the “Patent Abuse Reduction Act of 2013.” This legislation represents an important step forward in improving the patent system in such a way that allows America’s innovative industries to flourish.
Patent assertion entities (or patent trolls), which prey on companies to profit off of their innovation, cost the American economy more than $29 billion in 2011 alone – and this estimate does not even begin to measure the indirect costs of lost innovation. It is likely that this figure will only increase as patent trolls set their sights on a growing range of industries, as has happened in recent months.
That’s why it is imperative that members of Congress join Senator Cornyn in updating the patent system with common-sense reform before patent trolls can do more damage to America’s economy. By addressing important patent litigation problems through heightened pleading standards, early claim interpretation, and discovery cost-sharing, Senator Cornyn has injected some important issues into the current debate. These items would help to avert the threat of abusive patent litigation, by providing a more fair and balanced litigation process in patent cases.
The Coalition for Patent Fairness has long advocated for reforms that will thwart abuses of the patent system, and Senator Cornyn’s legislation will help advance that effort. We look forward to working with Senator Cornyn and his fellow Senate Judiciary Committee members to improve the patent system through patent litigation reform legislation this year.
The Coalition for Patent Fairness is a diverse group of companies and industry associations dedicated to enhancing U.S. innovation, job creation, and competitiveness in the global market by modernizing and strengthening our nation’s patent system.
Contact : Kate Connors, Kate.Connors@StoryPartnersDC.com
For more information, visit http://www.patentfairness.org.
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