Issa fights for patent holder rights

Reps. Darrell Issa (R-Calif.) and Judy Chu (D-Calif.) introduced legislation on Monday that would provide patent holders the tools to fight against patent assertion entities and patent trolls in order to stimulate American innovation and growth.

The proposed bill, the STOP Act, would alter the Transition Business Method Program by broadening the meaning of “a financial product” to include “an enterprise” or “a product.”

Issa said the language change would allow the Patent and Trademark Office to determine the extent of the validity of a number of patents where litigation abuse has spiraled out of control.

“Right now, patent trolls are manipulating the overly broad and poorly determined patent definition to win settlements and damages from tens of thousands of real American innovators,” Issa said. “As a patent holder, I know how harmful and expensive these aggressive litigation tactics are for American entrepreneurs. Instead of spending money on new hires or technology, innovators are faced with millions of dollars in legal fees to resolve these baseless lawsuits. The STOP Act provides tools for legitimate patent holders to put an end to the abuse.”

Issa is a member of the House Judiciary Committee and the Oversight and Government Reform Committee, where he serves as chairman.