On the recordDecember 5, 2013
I thank the chairman for his stewardship and the ranking member for his legitimate expressions of concern. Madam Chairman, this bill is a work in progress, but it is a meaningful step in the right direction as it relates to dealing with a patent troll problem that is adversely impacting small businesses, start-up companies, tech entrepreneurs, innovators, and inventors in New York City and all across the country. In our judicial system, we must ensure that outcome is determined on the basis of the merits of a claim and not the high cost of litigation in the patent context. When the latter occurs, innovation is hurt. We must also jealously guard the ability of legitimate patent-holders to vindicate their rights in court. With respect to that concern, there is still significant work to be done in the Senate, particularly as it relates to section 285. But notwithstanding that concern, this bill, the Innovation Act, represents a solid foundation upon which to address the patent troll dynamic, which almost everyone in this Chamber agrees is a significant problem. For that reason, I urge my colleagues to vote ``yes.''
