Entries with tag executive actions.

White House Announces Crackdown on Patent Trolls

US President Barack Obama has announced various executive actions and recommendations designed to stop abuses from patent trolls and patent exploitation. Patent trolls are companies that buy patent portfolios solely to make money by suing firms they accuse of infringement. Frequently, sued companies agree to settlements out of fear that a jury trial could result in huge damages, even if they believe they didn’t infringe on any patents. A Boston University study found that patent trolls cost US businesses $29 billion in 2011, according to The Hill, a newspaper that focuses on the US Congress. Critics say the practice is unfair and ties up resources that companies could use to design useful new products. They also say that trolls utilizing the patents they own only to file lawsuits keep companies from making good use of the technologies involved. Among Obama’s patent reforms are more training for patent examiners and the creation of educational materials to help businesses that patent trolls target. (Mashable)(The Hill)(The Washington Post)

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