Newsroom
July 08, 2014
House panel begins patent reform mark-up
July 9, 2014 – A House Energy and Commerce subcommittee is set to take opening statements at 4 p.m. today on patent reform legislation and will meet again at 10 a.m. Thursday to commence mark-up of the bill.
H.R. 4450, or "The Targeting Rogue and Opaque Letters Act," aims to protect businesses from so-called patent trolls, which profit from frivolous lawsuits. Introduced by Commerce, Manufacturing and Trade Subcommittee Chairman Lee Terry, R-Neb., the measure has been updated since the panel last reviewed it in May.
"We have spent months examining different ideas and challenges to address the growing threat of patent trolls, and the text we will consider this week is a product of those discussions amongst members and stakeholders," Terry said. "We all share the common goal of protecting businesses from abusive and deceptive practices while preserving American innovation."
NAFCU is working in support of patent reform legislation, including House-passed H.R. 3309, the "Innovation Act," introduced by House Judiciary Committee Chairman Bob Goodlatte, R-Va., and two bills from Sens. Charles Schumer, D-N.Y., and Orrin Hatch, R-Utah, to help discourage patent trolls from filing frivolous lawsuits. NAFCU has noted a growing number of credit unions are reporting receipt of demand letters from patent assertion entities, often targeting the use of commonly used technology.
Also in May, Senate Judiciary Chairman Patrick Leahy, D-Vt., withdrew his anti-patent troll legislation from his committee's agenda due to lack of bipartisan support.
H.R. 4450, or "The Targeting Rogue and Opaque Letters Act," aims to protect businesses from so-called patent trolls, which profit from frivolous lawsuits. Introduced by Commerce, Manufacturing and Trade Subcommittee Chairman Lee Terry, R-Neb., the measure has been updated since the panel last reviewed it in May.
"We have spent months examining different ideas and challenges to address the growing threat of patent trolls, and the text we will consider this week is a product of those discussions amongst members and stakeholders," Terry said. "We all share the common goal of protecting businesses from abusive and deceptive practices while preserving American innovation."
NAFCU is working in support of patent reform legislation, including House-passed H.R. 3309, the "Innovation Act," introduced by House Judiciary Committee Chairman Bob Goodlatte, R-Va., and two bills from Sens. Charles Schumer, D-N.Y., and Orrin Hatch, R-Utah, to help discourage patent trolls from filing frivolous lawsuits. NAFCU has noted a growing number of credit unions are reporting receipt of demand letters from patent assertion entities, often targeting the use of commonly used technology.
Also in May, Senate Judiciary Chairman Patrick Leahy, D-Vt., withdrew his anti-patent troll legislation from his committee's agenda due to lack of bipartisan support.
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