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November 05, 2013
NAFCU at Senate Commerce hearing on patent trolls
Nov. 6, 2013 – NAFCU will monitor a Senate Committee on Commerce subcommittee hearing Thursday on the dangers of deceptive practices by patent assertion entities, often called "patent trolls," for their unjustified threats of litigation for alleged patent infringement.
The Subcommittee on Consumer Protection, Product Safety, and Insurance will hold a hearing titled "Demand Letters and Consumer Protection: Examining Deceptive Practices by Patent Assertion Entities."
"It is estimated that some patent trolls can send upward of hundreds – or even thousands – of letters to small businesses with threats of litigation for alleged patent infringement and demand for payment," the subcommittee's website said. "Lately, many small businesses have paid the demands, even if they have not violated any patents, because of the high costs associated with the patent dispute process and potential litigation. Compounding the problem is the lack of basic disclosures and specificity in the demand letter that would allow recipients to make informed decisions, leaving consumers vulnerable to abuse."
Last week, NAFCU Vice President of Legislative Affairs Brad Thaler wrote the leaders of the House Judiciary Committee in support of reforms within H.R. 3309, "Improving the Patent System to Promote American Innovation and Competitiveness."
H.R. 3309 creates "a more efficient patent system, including NAFCU-supported language that would help protect credit unions from baseless litigation involving questionable business method patents," Thaler wrote in his letter. NAFCU supports patent reform that would bring relief to credit unions targeted by baseless litigation associated with low-quality patents.
The Subcommittee on Consumer Protection, Product Safety, and Insurance will hold a hearing titled "Demand Letters and Consumer Protection: Examining Deceptive Practices by Patent Assertion Entities."
"It is estimated that some patent trolls can send upward of hundreds – or even thousands – of letters to small businesses with threats of litigation for alleged patent infringement and demand for payment," the subcommittee's website said. "Lately, many small businesses have paid the demands, even if they have not violated any patents, because of the high costs associated with the patent dispute process and potential litigation. Compounding the problem is the lack of basic disclosures and specificity in the demand letter that would allow recipients to make informed decisions, leaving consumers vulnerable to abuse."
Last week, NAFCU Vice President of Legislative Affairs Brad Thaler wrote the leaders of the House Judiciary Committee in support of reforms within H.R. 3309, "Improving the Patent System to Promote American Innovation and Competitiveness."
H.R. 3309 creates "a more efficient patent system, including NAFCU-supported language that would help protect credit unions from baseless litigation involving questionable business method patents," Thaler wrote in his letter. NAFCU supports patent reform that would bring relief to credit unions targeted by baseless litigation associated with low-quality patents.
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