U.S. Patent and Trademark Office Director Blasts Patent Troll Concerns U.S. Patent and Trademark Office Director Blasts Patent Troll Concerns – NTK Network

U.S. Patent and Trademark Office Director Blasts Patent Troll Concerns

"Scaring them with ugly monster stories does precisely the opposite; it drives towards policies that inhibit innovation."

By NTK Staff | 10.22.2018 @4:16pm
U.S. Patent and Trademark Office Director Blasts Patent Troll Concerns

The United States Patent and Trademark Office Director Andrei Iancu blasted “patent troll” concerns claiming that they drive America “towards policies that inhibit innovation,” during a speech to the Eastern District of Texas Bar Association on Thursday.

“In our zeal to eliminate ‘trolls’ and ‘the bad patents’ they allegedly use to terrorize society, we have overcorrected and risk throwing out the baby with the bathwater,” Iancu said. “This must now end, and we must restore balance to our system.”

According to Investopedia, a patent troll refers to companies “that make money on patent-infringement lawsuits;” they “often acquire patents cheaply from bankrupt companies and do not use those patents in operations, but rather charge licensing fees to other businesses and individuals that appear to infringe upon a patent that they own.”

“Remarkably, in what I believe amounts to Orwellian doublespeak, those who’ve been advancing the patent troll narrative argue that they do so because they are actually pro-innovation,” Iancu continued. “That by their highlighting, relentlessly, the dangers in the patent system, they actually encourage innovation. Right!”

“Is it stories highlighting the success of risk-taking and the personal and public gratification of invention, or is it stories highlighting green monsters under bridges and the faults in the patent system?” Iancu asked. “Scaring them with ugly monster stories does precisely the opposite; it drives towards policies that inhibit innovation.”

“Look, people are free to express any point of view, and they can certainly advocate for weakening our patent system. But they should be upfront about it,” Iancu said.

Iancu then called for a change in the narrative adding that under President Trump’s administration, “we are now focusing on the brilliance of inventors, the excitement of invention and the incredible benefits they bring to all Americans and to the world.”

“Tonight, I have a message for these storytellers: Scaring our inventors and our entrepreneurs is harmful,” Iancu concluded. “And scaring our government officials drives towards overbroad policies that, on balance, inhibit innovation.”

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