CEA Commends Rep. Farenthold and Jeffries on the Introduction of the Patent Litigation and Innovation Act
Arlington, VA – 07/11/2013 – The following statement is attributable to Gary Shapiro, president and CEO of the Consumer Electronics Association (CEA)®, in response to today’s introduction of the Patent Litigation and Innovation Act by U.S. Representatives Blake Farenthold (R-Texas) and Hakeem Jeffries (D-New York):
“The Patent Litigation and Innovation Act focuses like a laser beam on the important issue of frivolous lawsuits brought by patent trolls – companies that do not produce products or services, but sue those who do. These lawsuits have reached epidemic proportions, now constituting the majority of patent lawsuits in the United States, and are estimated to cost the U.S. economy over 80 billion dollars per year.
“This legislation will allow legitimate companies to protect their patents, while discouraging abusive litigation.
“A well-functioning patent system is key to a modern economy. It is Congress’ job to ensure that the patent system promotes innovation and is not used as a vehicle for legalized extortion.
“We thank Representatives Farenthold and Jeffries for standing up for America’s innovators, and we encourage Congress to move forward with smart, common sense reforms to curb patent litigation abuse.”
The Consumer Electronics Association (CEA) is the preeminent trade association promoting growth in the $209 billion U.S. consumer electronics industry. More than 2,000 companies enjoy the benefits of CEA membership, including legislative advocacy, market research, technical training and education, industry promotion, standards development and the fostering of business and strategic relationships. CEA also owns and produces the International CES – The Global Stage for Innovation. All profits from CES are reinvested into CEA’s industry services. Find CEA online at www.CE.org, www.DeclareInnovation.com and through social media:
Public Policy & Government Affairs, CEA General