Washington, D.C. – i2Coalition Co-founder and Public Policy Chair David Snead issued the following statement on the introduction of the bipartisan Innovation Act:
“With a $29 billion shakedown of businesses in direct payouts during 2011 alone, abuse of the current patent system is an acute problem that must be addressed. The Internet Infrastructure Coalition (i2Coalition) applauds Chairman Goodlatte and Representatives DeFazio, Eshoo, Issa, Logren, Nadler, and Smith for their ongoing leadership and efforts to reform the counterproductive aspects of the patent system with the introduction of the Innovation Act today.
“Patent assertion entities or ‘patent trolls’ unfairly target legitimate companies with their frivolous lawsuits, which stifle growth and innovation. Abuse of the current patent system is a chronic problem that needs to be addressed at the federal level. We look forward to continuing to work with Chairman Goodlatte and other leaders to stop these abusive lawsuits and reform the U.S. patent system.”