• About Us
  • Activity
  • Advertising
  • Books
  • Business
  • Contact
  • Dashboard
  • EB5
  • Entertainment
  • feedback
  • Forgot Your Password?
  • Government
  • Home
  • Home 20723
  • Interviews
  • Login
  • Members
  • Meme generator
  • National
  • Nevada
  • Nevada News and Views
  • Newsmax
  • NN&V Ads
  • Opinion
  • Pick a New Password
  • Politics
  • Polls
  • Privacy Policy
  • Profile
  • Recent comments by me
  • Recent comments on my posts
  • Register
  • Submit post
  • Subscribe
  • Subscription Confirmation
  • Survey
  • Survey
  • Terms of Service
  • Today’s Top 10
  • Travel
  • Travel
  • Travel
  • Welcome!
  • Yop Poll Archive
Nevada News and Views
  • About Us
  • Contact
  • More
    • Opinion
  • Facebook

  • Twitter

  • Pinterest

  • RSS

Opinion

Conservative Merits of Patent Reform Legislation

Conservative Merits of Patent Reform Legislation
Chuck Muth
May 5, 2015
USA court

The Supreme Court

Chuck Muth(Chuck Muth) – In the wake of the Great Recession, the American economy continues to face an anemic recovery as we attempt to return to a period of sustained growth. In fact, just this past week, the Bureau of Economic Analysis announced that the gross domestic product grew at a rate of just 0.2 percent between January and March. Businesses – both large and small – are grappling with significant uncertainty and unpredictable days ahead.

As if today’s economic climate wasn’t challenging enough, our innovators and job creators are being held back by another force which is becoming an increasing threat: patent trolls. These faux inventors are destroying the incentive for American entrepreneurs to create new products and businesses, which directly hurt our nation’s economic future.

Patent trolls, often partnering with trial lawyers, comb through thousands of patents, attempting to find vague language in order to file suit against legitimate businesses. Often, these trolls will file dozens of lawsuits in a single day. Even if the majority of lawsuits are thrown out as frivolous, one settlement can lead to millions in profits for the troll. On average, reaching an out-of-court settlement with a troll costs a business approximately $1.3 million.

Our economy must be able to recognize the full potential of our great minds and every idea that can be harnessed. This open exchange of ideas is the epitome of the free market system that has made the American economy the envy of the world.

Fortunately, Congress is currently considering the Innovation Act (H.R. 9), which will ensure that innovators are given space to invent without having to fear patent trolls. The legislation does not affect the patent process or legitimate patent litigation; it only guarantees that certain safeguards are implemented that place the burden on patent trolls to prove their claim before they can extort hard-working job creators.

Just last week, the U.S. Senate committed itself to the patent reform discussion and introduced the Protecting American Talent and Entrepreneurship Act of 2015 (PATENT Act), which has wide bipartisan support. The legislation addresses most of the same major issues as the Innovation Act and calls for greater protections for customers caught up in lawsuits.

Similar legislation passed the U.S. House of Representatives during the last session of Congress, but then-Senate Majority Leader Harry Reid refused to even give the bill a committee hearing. However, there is an opportunity present this session to support – in a bipartisan manner – legislation that protects our nation’s innovators from frivolous litigation, while giving our economy a badly needed shot in the arm.

Conservatives understand that the free market is what drives America and that innovation and invention will be a key to our future and security. The effect of patent trolls’ actions are no different from ad-hoc tax policies which result in innovators – who should be spending their time refining ideas – wasting precious resources in other areas. We must stop these modern day ambulance chasers if we are to continue to promote ideas and innovation.

This is an idea that has persisted throughout the history of our country. Abraham Lincoln, the only president to be awarded a patent said that the patent system “added the fuel of interest to the fire of genius,” underscoring his recognition that the United States must have a robust patent infrastructure.

Now with both the Innovation Act and PATENT Act, it is past time that lawmakers enact legislation to ensure that the innovators in our country are not penalized by anti-progress patent trolls and trial lawyers. Passage of legislation addressing this issue will benefit all Americans.

 

Mr. Muth is president of Citizen Outreach and the publisher of www.NevadaNewsandViews.com.  He personally blogs at www.MuthsTruths.com.

Prev postNext post

Related Items
Opinion
May 5, 2015
Chuck Muth

Related Items

More in Opinion

Amodei Statement on Debt Ceiling Bill

Chuck MuthJune 1, 2023
Read More

Tark: Trans “Rights” … and Wrongs

Chuck MuthMay 26, 2023
Read More

Stone: The Truth About AB 250: Will Patients Really Benefit?

NN&V StaffMay 26, 2023
Read More

“Ungrateful Miscreants”: Miller, Segerblom Insult Local Small Business Owners

NN&V StaffMay 24, 2023
Read More

Quarter-Million Dollar Ad Campaign Targets Nevada Legislators for Trapping Hispanic Families in Unsafe Schools

NN&V StaffMay 22, 2023
Read More

Nevada News & Views: May 20, 2023

NN&V StaffMay 20, 2023
Read More
Scroll for more
Tap

Subscribe Free By Email

Looking for the best in breaking news and conservative views? Let Chuck do all the work for you! Subscribe to his FREE "Muth's Truths" e-newsletter.

* indicates required
Nevada News and Views
Nevada News & Views is an educational project of Citizen Outreach Foundation, a non-partisan IRS-approved 501(c)(3) organization. It is not associated or affiliated with any political party or group. Nevada News & Views is accessible by the public at no cost. It funds its operations through tax-deductible contributions from donors and supporters and does not accept government money or grants.

TAGS

Featured Article Muths truth

Copyright © 2023 Citizen Outreach | Maintained by VirtualAlly

Supreme Court urged to hear major case involving Free Speech and Property Rights
Where the buck stopped