Press Release

CPF Statement Thanking President Obama For His Remarks on the America Invents Act

WASHINGTON, D.C. – The Coalition for Patent Fairness, comprising leading companies in the manufacturing and information technology industries, today released the following statement regarding comments that President Obama made in support of doing more to fix the patent system:

“The members of the Coalition for Patent Fairness commend President Obama for his suggestion that there is still significant work to be done toward updating and improving America’s patent system.

“Despite the passage of the America Invents Act (AIA), many of America’s most innovative companies are still plagued by patent assertion entities (PAEs), commonly referred to as “patent trolls.” According to recent research, patent trolls cost the American economy $29 billion in 2011 – and this estimate did not take into account the indirect costs of lost innovation. In fact, the problem is growing. Increasingly, patent trolls target the vulnerable small- and medium-sized businesses that are often unable to assume the cost of litigation. These are future job creators in America, and should be protected so that they can grow.

“Quite simply, PAEs exist solely to profit off the market innovation of others. That’s why, just a week before the President made his comments about the need for additional improvements beyond AIA, CPF called on Congress to take further steps to update and enhance the patent system. Our letter outlined measures that we believe would help to mitigate the impact of patent trolls. The letter, in its entirety, can be viewed here.

“We thank President Obama for his comments, and we look forward to working collaboratively with the Administration, Members of Congress, and other stakeholders to constructively update and strengthen the patent system in a way that allows innovation to flourish.”

The Coalition for Patent Fairness

Adobe
San Jose, CA

Cisco Systems
San Jose, CA

Dell
Round Rock, TX

Google Inc
Mountain View, CA

Intel Corporation
Santa Clara, CA

Intuit
Mountain View, CA

Oracle
Redwood Shores, CA

Rackspace
Austin, TX

BlackBerry
Dallas, TX

SAP America, Inc.
Newtown Square, PA

Verizon Communications Inc.
New York, NY

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.

For more information, visit http://www.patentfairness.org.

Contact : Kate Connors, Kate.Connors@StoryPartnersDC.org