Patent trolls rejoice! Senate Judiciary Committee Chairman Patrick Leahy killed the Innovation Act which sought to curb patent trolls. Patent trolls are firms that obtain (horde) patents and use them primarily to threaten lawsuits. The Innovation Act sought to impose a loser pays regime in patent lawsuits, protect end-users from being threatened with legal action for using commonly available products, and would have required more detailed descriptions of the alleged damage suffered by the trolls in their initial pleadings.
Not surprisingly, the Innovation Act was popular over a broad spectrum of companies, by persons on both sides of the aisle, and the President. Unfortunately, the trial lawyers and drug manufacturers were not such big fans. Hmmm. Leahy claimed that the Innovation Act would have "severe unintended consequences on legitimate patent holders." So, we should let the illegitimate patent holders keep making profits by way of lawsuit extortion?
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