US: Senators find common ground to push anti-patent troll bill

Senators have found common ground in efforts to reform policies surrounding patent infringement lawsuits, according to a source.

Senator Charles Schumer (D-NY) and Senator John Cornyn (R-TX) have reached a compromise after a week of discussion regarding new patent legislation aimed at increasing transparency within legal disputes. The reforms will also look to establish a “loser pays” policy for unreasonable actions, according to reports.

The two policymakers have reached an agreement on proposed reforms after the Senate Judiciary Committee has delayed consideration for the Patent Transparency and Improvements Act, introduced by Chairman Patrick Leahy. With revised language, reports say the new draft policies will be presented before the Committee after it returns from a two-week recess.

Leahy’s offer aims to curb patent trolls, which acquire patents for the sole purpose of suing firms that infringe on that intellectual property. Patent trolls have been on the radar of antitrust regulators in recent months; Leahy’s bill would give the Federal Trade Commission power to pursue companies that anticompetitively threaten lawsuits and require heightened transparency about the owner of a patent.

Leahy said lawmakers “now have a broad bipartisan agreement in principle” though noted that more time was needed to finalize provisions before the bill is ready for consideration by the Committee.

Full Content: The Hill

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