Political Quotes

“Mr. President, In September of 2011 this body debated and passed landmark patent legislation which was subsequently signed by the President and is now law. The America Invents Act--AIA--updated, for the first time in many years, the way patents are issued and prosecuted, and in some instances the means by which businesses defend themselves against lawsuits filed by the ever-growing cottage industry of patent assertion entities. The AIA made many important improvements to our patent law. But more needs to be done. Even in just the short time since the bill passed, the problem of so-called ``patent trolls'' has continued to grow exponentially. In fact, patent trolls cost operating companies $29 billion in 2011 alone. Many of these suits are the result of poor- quality patents being asserted by highly litigious parties against ordinary businesses, large and small, who are left with only unacceptable options: pay a costly licensing fee, settle a court case to avoid litigation costs, or expend millions in litigation fees in hope of prevailing at the end of the day in court. This has been especially problematic in the universe of technology startups--a booming industry in New York in particular. These small businesses have everything going for them--good ideas, smart employees, and loyal customers. But they risk being entirely undercut by a clever patent troll who takes advantage of them in court.…”