President Obama to Tackle Patent Trolls
Plan comes as Congress ramps up new bills
President Obama is joining in the battle against patent trolls. On Tuesday, he announced a set of five executive actions and seven legislative recommendations aimed at patent assertion entities that are disrupting the digital economy. Along with the action plan, the National Economic Council and the Council of Economic advisers released a report, Patent Assertion and U.S. Innovation.
The news was first reported by The Wall Street Journal.
Obama's actions will come as good news to both the tech and advertising community, which have had to defend themselves against patent trolls that hold patents for what many consider to be common business practices.
"[Patent trolls] don't actually produce anything themselves; they're just trying to hijack somebody else's idea and see if they can extort some money out of them," Obama said in a Google+ Fireside Hangout in February.
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