The last decade was a boom time for patent trolls. Their names and lawsuits made the news; This American Life dedicated two hour-long episodes to them. The number of defendants in patent troll lawsuits increased sixfold from 2003 through last year. But now the tides seem to be turning for them: After growing very rapidly since 2009, the number of lawsuits filed by “non-practicing entities” will be significantly lower this year compared to 2013. Although the level of litigation will still be at a historic high, is this indicative that they are finally being reigned in?
The U.S. economy has lost $1.1 billion due to inaction on the issue during the Senate’s two week recess.
After almost three weeks of heated debate the Senate Judiciary Committee left for April Recess on the doorstep of an historic deal to curb the scurrilous practices of patent trolls.
Patent trolls rack up legal and licensing bills.
The scourge of inventors everywhere are firms that collect and enforce patents of dubious value—with no intention of creating the invention described in those patents. They force large companies to rack up legal and licensing bills, and scare away startups from putting out novel products. These firms raise prices for all of us, and they generally slow down the future. Everyone hates them.