Rep. Peter DeFazio Puts Patent Trolls on Notice

Rep. Peter DeFazio (D-Ore.) has penned an editorial over at The Hill espousing the benefits of the SHIELD Act which he crafted with the help of Rep. Jason Chaffetz (R-Utah) with input from tech start-ups, consumer groups, and legal professionals from all across the country.

The bill proposes that if a company or law firm determined to be a "patent troll" loses a lawsuit against a company it is targeting, they will be held responsible for all costs and attorney’s fees associated with the case. In England, they call this "loser pays." DeFazio points out that most patent trolls lose 92 percent of the time according to a recent report by the Congressional Research Service.

"In the coming months I am confident that Democrats and Republicans will be able to come together to pass a comprehensive plan that will protect the Americans bold enough to create and innovate, and stop the people who hijack their ideas to get rich quick," DeFazio concludes. "We cannot afford to allow extortion that squeezes billions of dollars from the people and business that fuel our economy."

You can read the whole editorial here.

"Troll" © 2013 Mr. Chuckles / Shutterstock. All rights reserved, used with permission.

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