Charles Schumer in Antitrust, by Amy Klobuchar


On Technology: Stop "patent trolls" who use patents to block innovation

The pejorative term "patent troll" has been coined to capture the situation in which a company or a person acquires patent rights (often through a bankruptcy) not for purpose of manufacturing products but to aggressively sue alleged infringers.

Like me, New York's senior Senator, Chuck Schumer, one of the bill's other co-sponsors, saw the need for something concrete to be done. As Senator Schumer said when we passed the bill, "patent trolls are taking a bill meant to drive innovation and instead using it to stifle job creating businesses around the country. Main street stores, tech start ups and more are being smothered by the abuse that is all too common in our patent system, and it's time for that to end." Both big companies and patent trolls can misuse patents to stifle legitimate competition, and when that happens, it is a real problem-and something that America's founders would not have liked one bit.

Source: Antitrust, by Amy Klobuchar, p.335-336 Apr 27, 2021

The above quotations are from Antitrust
Taking on Monopoly Power from the Gilded Age to the Digital Age

by Amy Klobuchar
.
Click here for other excerpts from Antitrust
Taking on Monopoly Power from the Gilded Age to the Digital Age

by Amy Klobuchar
.
Click here for other excerpts by Charles Schumer.
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Page last updated: Nov 25, 2021