This is nothing but cover for stealing private property of people who are not in the club.
Yes, let’s forget all about Benghazi and the IRS - it’s these patent trolls who are really important.
What is a ‘patent troll’?................
Oh my God... we have gifted China with our complete patent database though business practices, and Slum Dog thinks he’ll stop the damage with this?
ROTFL
An insidious side-effect of patent trolls is that they make their money mainly through intimidation. Threaten a big company with a lawsuit and 9 times out of 10 their IP staff will say something like “Well, we can probably win in court, but it will cost $X”. The bean counters will then do the math and write a check for some sizable fraction of $X, saving time and money and patting themselves on the back for avoiding a worse outcome.
But who pays? You and me, bucko. A patent troll cost my former employer $300K for a totally baseless allegation just like I’ve described above. Not because we’d infringed, but because $300K was cheaper than the cost to fight the bastards.
When I first read the title I thought is said “patient.”
Thought this was going to be an article on death panels.
Oh well. Obama must simply nationalize all patents.
0bama is incapable of original thought. This latest edict is coming FROM the likes of Cisco (see attached) and Apple.
http://judiciary.house.gov/hearings/113th/03142013_2/Chandler%2003142013.pdf
They are some of the worst patent infringers out there. No mystery as to why Tim cook of Apple put the disgraced former EPA chief, Lisa Jackson on his payroll. It’s insurance. See the latest ITC ruling against Apple on infringing Samsung patents. And...only the President has the power to overturn the ITC (International Trade Commission) Pardon me while I adjust my tinfoil hat.
FYI, I am a patent attorney. Patent rights are intellectual property, and as property they can be freely assigned, bought, sold or given away.
“Patent trolls” are often individual inventors or small companies who try to monetize their creations, but are overwhelmed by the financial might of big corporations who steal the ideas of others without shame.
Regardless, there is a right for people to buy commodities and reap the financial benefits whether the commodity be stock, bond, patent, deed, futures or whatever.
Another give-away to big businesses at best.
At worst we may see patents denied or delayed based on political views and donations.
Obama moved us to be like the rest of the world with first-to-file which gives more leverage to big corporations over individuals and small businesses which formerly competed on a more level playing field.