- The long-awaited bill to curb patent troll abuse, called the Innovation Act, has finally been introduced. Patent trolls—entities that hold a patent without producing anything—are costing the U.S. economy an estimated $80 billion a year.
- The bill is moving quickly, despite the delay from the government shutdown, because of strong bipartisan support.
- The bill serves to make it easier for companies victimized by patent trolls to defend themselves by requiring patent trolls to provide more detail and transparency about their claims.
The reason this bill is moving so quickly is the blatantly obvious fact that what patent trolls are doing is unethical. Hopefully, the legislation will help companies defend themselves against these lawsuits without penalizing legitimate patent holders.