Frivolous patent litigation continues to suppress business and economic development in the United States. Small Business Minnesota has joined a national effort to pass related federal legislation co-authored by Minnesota Senator Amy Klobuchar. If you’ve experienced a patent troll action or would like to assist with this effort, contact Audrey Britton, Small Business Minnesota public policy chair, (612) 807-0311.
The importance of this legislation to the business community is undeniable. Patent litigation is a serious problem, with 2015 shaping up to have the most patent lawsuits filed in history. Sixty-eight percent of all patent lawsuits are now filed by Patent Assertion Entities. This litigation has spared no industry sector and hurt businesses off all sizes throughout the country costing businesses billions in direct and indirect costs each year draining resources that would otherwise be used to create jobs and invest in new technologies.
Small Business Minnesota has heard from members concerned with this issue. One Minnesota small business owner decided to fight back and commented that he cannot attract new business because of the ongoing lawsuit. Attorney Lori Swanson has already sent one patent troll “business” packing but her efforts have been limited.