End Patent Troll Abuses

ABA, CUNA, and other trade groups sent a joint letter last week to congressional leaders stating that Congress should act to stop patent abuse by non-practicing entities, also known as “patent trolls."

These patent trolls hold patents but do not use or manufacture the patented technology or concept; instead, they solicit “licensing fees” from firms that use common but patented technology, threatening legal action if a fee is not paid.

The letter stated: "Managing frivolous patent suits unfortunately has become an expensive distraction for a large cross section of American businesses. Instead of focusing on innovation, job creation, and economic growth, we are forced to deal with legal games that have serious consequences."

Read the letter below (click on images to enlarge).