October 23, 2013

“The Information Technology Industry Council (ITI), which represents 54 of the world’s most innovative and dynamic companies, welcomes today’s introduction of the Innovation Act — patent reform legislation by House Judiciary Chairman Bob Goodlatte (R-VA), Representative Peter DeFazio (D-OR) and others,” said ITI President and CEO Dean Garfield.  "Our patent system is both fundamental and essential to the success of American innovation.  It’s been that way since our nation’s founding.  Yet, so-called patent trolls are all too interested in exploiting this hallmark system, twisting legal procedures and extorting legitimate innovators for vast sums of money at the expense of America’s future economic growth.”
“Despite laws enacted in 2011 to improve patent transparency, the number of abusive patent suits filed each year continues to increase dramatically.  Congress needs to change the rules of this all too costly and abusive game and remove the incentives in the law that make the threats of costly litigation all too real for companies large and small.  With the introduction of the Goodlatte/DeFazio Innovation Act, we can begin that reform process.  A number of important, constructive ideas have been raised in this bipartisan bill that will significantly reduce this ominous litigation threat.  We urge a continued bipartisan effort to achieve lasting improvements in the patent system’s capability to promote job-creating innovation.”

Public Policy Tags: Intellectual Property