On February 14, 2013, President Obama conducted the second Fireside Hangout on Google+ of his presidency. During the discussion, Limor Fried expressed her concerns to the President that successful entrepreneurs are often targeted by "software patent trolls, these are firms that collect software patents just for the purpose of litigation and getting money out of small companies that can’t afford patent defense."
Referencing the recently-enacted America Invents Act President Obama did not have kind things to say about such entities: "A couple years ago we began a process of patent reform. We actually passed some legislation that made progress on some of these issues. But it hasn't captured all the problems. The folks that you're talking about are a classic example. They don't actually produce anything themselves. They're just trying to essentially leverage and hijack somebody else's idea and see if they can extort some money out of them."
Referencing the recently-enacted America Invents Act President Obama did not have kind things to say about such entities: "A couple years ago we began a process of patent reform. We actually passed some legislation that made progress on some of these issues. But it hasn't captured all the problems. The folks that you're talking about are a classic example. They don't actually produce anything themselves. They're just trying to essentially leverage and hijack somebody else's idea and see if they can extort some money out of them."
The President then called for all stakeholders to come together to build additional consensus on "smarter patent laws." He recognized that high-tech issues require balancing the need for privacy, openness and civil liberties with the rights of copyright and patent owners.
Whatever one's views, I am excited as an IP professional to see this issue discussed in the same forum where questions on immigration reform, government transparency and drone strikes were addressed. Ms. Fried's question is yet another example of how IP policy has become a vital issue of our time.
Whatever one's views, I am excited as an IP professional to see this issue discussed in the same forum where questions on immigration reform, government transparency and drone strikes were addressed. Ms. Fried's question is yet another example of how IP policy has become a vital issue of our time.
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