LES (USA & Canada) Takes a Position in Patent Litigation Abuse
Tuesday, August 18, 2015
The Licensing Executives Society of USA and Canada (LES) Supports STRONG Patents Act, S. 632 and Opposes Pending Legislation H.R. 9, the Innovation Act and S. 1137, the PATENT Act
MOUNT LAUREL, N.J. – August 18, 2015 — The Licensing Executives Society (USA & Canada), Inc. (LES) has sent letters to Congress expressing concern over legislation pending in both the House (H.R. 9, the Innovation Act) and the Senate (S. 1137, the PATENT Act), both aimed at patent litigation abuse, but harmful to innovators.
The Society’s position is that the bills are overly broad approaches and prejudicial to all innovators, and, rather than liberating innovation, will remove substantial and worthy incentives for inventors and entrepreneurs. Instead, LES supports the STRONG Patents Act, S. 632, as a targeted approach to combatting abusive patent litigation practices.
“While abusive practices are perpetrated by a very small minority of patent holders, it is nonetheless a drag on the American economy,” said Bradley J. Olson, Vice-Chair of the LES Public Policy Committee. “The STRONG Patents Act, S. 632, addresses abusive practices but preserves valuable property rights and proper incentives for innovation.”
It is the opinion of LES that H.R. 9 and S. 1137 will not only stifle innovation, but will decrease new business formation and weaken the economy. The Society supports a balanced and practical approach that takes into account the recent enactment of the America Invents Act (AIA) and recent precedent attacking litigation abuse.
For this reason, LES has encouraged leadership in both the House and the Senate to defer further action on those bills until the implementation of both the AIA and recent precedent has become settled, and the business environment has become more predictable for patent owners.
As a non-profit professional society representative of the entirety of the diverse community of executives, lawyers, and consultants engaged in intellectual property (IP) transactions, commercialization and valuation, LES and its members are devoted to bringing the fruits of innovation rapidly to market for the benefit of the global community. The Society supports robust and effective IP protection in support of reliable and efficient transfers of IP rights, and the corresponding enlargement of markets and enhancements in economic activity.
Read the full letters, here. To learn more about LES, visit www.lesusacanada.org.
About LES (USA and Canada):
Established in 1965, the Licensing Executives Society (U.S.A. and Canada), Inc. (LES) is a professional society of nearly 3,000 members engaged in the transfer, use, development and marketing of intellectual property. The LES membership includes a wide range of professionals, including business executives, lawyers, licensing consultants, engineers, academicians, scientists and government officials. Many large corporations, professional firms, and universities comprise the Society's membership. Licensing Executives Society (U.S.A. & Canada), Inc. is a member society of the Licensing Executives Society International, Inc. (LESI), with a worldwide membership of more than 10,000 members in 32 national societies, representing over 90 countries. For more information on LES, visit www.lesusacanada.org.