Jason Chaffetz: “Woman, I thank Chairman Goodlatte, and I thank Members on both sides of the aisle for working on this. In the 112th…”

“Woman, I thank Chairman Goodlatte, and I thank Members on both sides of the aisle for working on this. In the 112th Congress, I worked closely with Congressman DeFazio on the SHIELD Act, but a much better bill is before us today. I want people to understand the gravity of the problem and who is also being attacked. I find this fascinating. Fifty-five percent of troll suits involve companies with annual revenues of $10 million or less. Yes, the Microsofts and the Oracles and the really big companies out there are going to be in constant flux and in points of litigation, but it is really these small companies that are getting bombarded. In fact, if you look since 2005, there are literally four times as many troll suits going through the patent system right now than there were in 2005. They are being extorted. This helps solve it. This is why I am so enthusiastic in supporting this bill. I appreciate the bipartisan support on this. It does solve a very real problem. The majority of the problem is for companies with annual revenues of less than $10 million.”