Newsroom
NAFCU, with 400+, pushes for patent reform
May 1, 2014 – NAFCU joined with more than 400 organizations Wednesday to urge Senate Judiciary Committee Chairman Patrick Leahy, D-Vt., and Ranking Member Chuck Grassley, R-Iowa, to stop patent abuse and pass reform legislation that would provide relief from frivolous lawsuits.
"Today, abusive patent litigation is killing small companies, chilling employment and growth of all companies, and stifling the economies of a wide range of industries nationwide," the groups said in their letter to the committee leaders.
To stop patent abuse, the organizations recommended:
- curbing abusive demand letters and punishing those entities sending them;
- uncloaking trolls that hide behind shell corporations;
- protecting customers and end users from lawsuits based on their use of another company's products and services; and
- making trolls pay when they file frivolous cases.
The letter was sent by the Main Street Patent Coalition, a national, non-partisan coalition of organizations dedicated to stopping patent abuse from trolls by encouraging Congress to pass reform legislation. Members of the coalition and signers of the letter, along with NAFCU, include the National Retail Federation, National Restaurant Association, American Bankers Association, Printing Industries of America, American Gaming Association, American Hotel and Lodging Association, CUNA, National Association of Realtors and more.
The Senate Judiciary Committee has postponed today's planned markup of S. 1720, the "Patent Transparency and Improvements Act of 2013." This bill, introduced by committee Chairman Patrick Leahy, D-Vt., is meant to increase transparency in the ownership of patents and protect consumers against frivolous patent-infringement lawsuits.
NAFCU has been 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 separate bills from Sens. Charles Schumer, D-N.Y., and Hatch that would help discourage patent trolls from filing frivolous lawsuits.
Share This
Related Resources
Add to Calendar 2024-06-26 14:00:00 2024-06-26 14:00:00 Gallagher Executive Compensation and Benefits Survey About the Webinar The webinar will share trends in executive pay increases, annual bonuses, and nonqualified benefit plans. Learn how to use the data charts as well as make this data actionable in order to improve your retention strategy. You’ll hear directly from the survey project manager on how to maximize the data points to gain a competitive edge in the market. Key findings on: Total compensation by asset size Nonqualified benefit plans Bonus targets and metrics Prerequisites Demographics Board expenses Watch On-Demand Web NAFCU digital@nafcu.org America/New_York public
Gallagher Executive Compensation and Benefits Survey
preferred partner
Gallagher
Webinar
AI in Action: Redefining Disaster Preparedness and Financial Security
Strategy
preferred partner
Allied Solutions
Blog Post
Add to Calendar 2024-06-21 09:00:00 2024-06-21 09:00:00 2024 Mid-Year Fraud Review Listen On: Key Takeaways: [01:16] Check fraud continues to be rampant across the country. Card fraud is affecting everyone. [04:31] Counterfeit US passport cards are just another new toolbox in the bad actors’ toolbox. [07:21] Blocking the fallback is the only way to defeat counterfeit cards. [11:17] The best way is constant education to your members in as many channels as you can. [13:02] We are still seeing overdraft lawsuits. Make sure the programming you have at your credit union matches what you have displayed for the members. Web NAFCU digital@nafcu.org America/New_York public
2024 Mid-Year Fraud Review
Strategy & Growth, Consumer Lending
preferred partner
Allied Solutions
Podcast
Get daily updates.
Subscribe to NAFCU today.