Patent Trolls costing an astronomical $500 Billion

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Another reason the patent system is so difficult.

Last month, Google stepped up to defend Android coders against notorious patent troll Lodsys. Apple fought the company a few months earlier on behalf of iOS developers. Patent reform is a hot topic right now, especially after President Obama just signed legislation that means the U.S. is shifting to a “first to file” (over “first to invent”) system. This won’t help much with the patent troll situation, which Boston University researchers James Bessen and Mike Meurer say have cost publicly-traded defendants $500 billion since 1990…

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