The House has already acted; the White House has said enough is enough. It's time for the Senate to do their part to reform the patent system so that it rewards innovation -- not trolls trying to manipulate the system.
The faster the action to stop or slow down the trolls, the better -- to ensure that consumers, including credit union members, don't lose access to convenient services, or even their favorite small financial institutions.
More and more American businesses have found themselves tied up in senseless litigation or threatened with extortive threats as patent trolls exploit flaws in the patent litigation system. Because of this, businesses have been forced to spend valuable time and money on pointless lawsuits.
Following a slew of other bills introduced this year to address America's broken patent system, House Judiciary Committee Chairman Bob Goodlatte released a second draft of a proposal to extend and amend the America Invents Act of 2011.
The jury is still out about how the new system is affecting companies with potentially novel inventions. But one thing is for sure: First to file is forcing inventors to be smarter and quicker about how they approach their intellectual property.
Showing the world that the U.S. does not play favorites and reining in the International Trade Commission's nearly automatic issuing of exclusion orders for any violation are both good for U.S. industry and international trade.
Market-driven competition is better for economic growth than choosing winners and losers through political and legal maneuvering. A settlement that results in Apple and Samsung engineers designing products instead of courtroom exhibits is better for all involved.
I am increasingly puzzled why Congress can't act to solve a real problem when the solution is obvious, easy and supported by Americans. Can tiny minorities with loud voices and deep pockets ruin our great nation?
Consumer-facing, peer-to-peer commerce start-ups are hot, but how many tie-sharing services does the country really need? (Yes, there is hot competition in this space.) Ideas like these are attractive because they are easy to act on quickly.
Patent protection, by its very nature, is supposed to operate as a deterrent to protect inventors from getting their novel inventions stolen or misused, but defects in both the granting of this protection and modern litigation devices created for enforcement run askew of this goal.
Across the world, our competitors are investing in their future. We cannot afford to fall behind. As former President Bill Clinton wrote in his latest book Back to Work, it's time Americans got into the future business again.
if you are an inventor, here's downer news that few will tell you... you probably can't do it. The odds you face are just too long. So don't quite your day-job, OK? Here are the five forces working against us.
While I would never -- and have never -- advocated for abolishing the patent system, because that would be throwing the baby out with the bath water, we do need to fix our patent system so that it rewards innovation, not manipulation.