WASHINGTON – The Information Technology Industry Council (ITI), the global voice for the tech sector’s leading companies, issued the following statement today from President and CEO Dean Garfield welcoming the introduction of the Protecting American Talent and Entrepreneurship (PATENT) Act, bipartisan patent reform legislation sponsored by Sens. Chuck Grassley (R-Iowa), Patrick Leahy (D-Vt.), Orrin Hatch (R-Utah), Chuck Schumer (D-N.Y.), John Cornyn (R-Texas), Amy Klobuchar (D-Minn.), and Mike Lee (R-Utah):
“The tech sector is pleased to see a bipartisan effort emerge in the Senate to put the brakes on patent trolls. The integrity of the U.S. intellectual property system is essential to advancing cutting-edge breakthroughs. But patent trolls have become a multi-billion dollar industry based on exploiting flaws in the patent system to extort money from legitimate patent holders, including startups and tech companies, through frivolous lawsuits. These needed reforms will help stop abusive patent litigation, which drains money that should be used to invest in entrepreneurship, innovation, and job creation. We urge the Senate to act swiftly and pass the PATENT Act to protect American ingenuity and boost our economy.”
In February, ITI encouraged lawmakers to support the Innovation Act in the House to enhance the innovation economy. Patent reform is one of tech’s top agenda items and has strong bipartisan support in Congress.
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