CEA, NRF Praise Innovation Act Passage
Industry associations, including the Consumer Electronics Association and National Retail Federation, on Thursday praised the House of Representatives' passage of H.R. 3309, the Innovation Act, the law meant to combat "patent trolls."
“Today Congress worked in bipartisan fashion to do the right thing and secure America's economic future. Patent trolling is garden-variety extortion by another name, and we are one step closer to shutting it down. I applaud today’s vote to end frivolous patent litigation that is suppressing innovation, stifling economic growth and costing Americans tens of billions of dollars," CEA's Gary Shapiro said as part of the announcement.
“The Innovation Act will greatly reduce the epidemic of patent lawsuit abuse afflicting the U.S. economy and provide particular relief for small businesses, the primary victims of patent trolls, who lack the resources to fight back in court. This legislation will crack down on those who abuse patent law, without impinging on legitimate companies and patents. Democrats and Republicans agree that there is no reason to reward those who make no useful products or services, but make money by extorting innovators and job-creators.