Patent trolls killed a bill – what you should know

A bill meant to protect small companies against patent trolls was removed from the Senate Judiciary Committee’s agenda, thus wasting efforts of a year.

Who or what is a “patent troll”?

The term “patent troll” is typically used to describe a company whose
main business is to buy a lot of inactive patents, threaten to file lawsuits against supposed violators and then offer to settle for less than the cost of a full lawsuit.

What was in the bill?

The bill would have required a judge to determine early in the process whether a given patent was valid. It also had provisions in it for more disclosure about who owned a patent and who would benefit from a lawsuit.

Who would the bill have protected?

The bill would have protected retailers, technology companies and small businesses.

Why did it fail?

There was a requirement in the bill for the patent plaintiff to put up a bond to cover the possible payment of the winning side’s legal fees. This turned to be a contentious issue and both sides could not reach an agreement.

Who is responsible?

Those who supported the bill say that the pharmaceutical companies and universities, along with the trial lawyers, are the prime culprits, accusing them of heavy lobbying to kill the bill.

What is next?

In the best case, the legislation will be delayed. The worst scenario is where both sides never ever reach an agreement, leaving many businesses at risk from frivolous lawsuits.

Inventions of Mary Jane McLeod

Note: This is a guest post.

Mary Jane McLeod was born on July 10, 1875 and died on May 18, 1955. She had an extraordinary Continue reading →

Why was Frank Zamboni, the inventor of ice resurfacer, successful?

Inventor: Frank Zamboni
Born: January 16, 1901
Died: July 27, 1988
Born in: Eureka, Utah, USA
Year of invention: 1949 in Paramount, California
Patents in: refrigeration, ice resurfacing, automatic edger, etc

Frank Zamboni is one of those very few people who invented something and made a business out of it successfully. How did he succeed where others failed? Continue reading →

Granville T Woods

The American dream has been shaped by numerous ambitious persons, who were born or moved to the land of all opportunities with hopes of a better life. Still, not many avenues were open in the 19th century for the African American inventors and businessmen. Besides needing courage, will, intelligence and desire to risk, the African American inventors and businessmen also had to fight Continue reading →

Ancient Chinese inventions

China has been known as the source of many incredible inventions that have revolutionized many industries and have had an impact in today’s world as we know it. The ancient Chinese community invented a number of technologies in the field of mechanics, mathematics, hydraulics and many others. These inventions, especially in Continue reading →

Jethro Tull the inventor

Jethro Tull was an Agricultural Pioneer who aided in the in bringing about the Agricultural Revolution in Britain. His most celebrated achievement was the invention of Continue reading →

George Washington Carver

Peanut man! That was the nickname of George Washington Carver, mainly because of all his peanut related inventions.

He was an American scientist and inventor whose main claim to fame was Continue reading →

Marie Curie

Madam Curie is one of the most revered female physicists and is well known for her discovery of several radioactive metals including Radium and Polonium. Together with her husband, she studied the x-rays they emitted. She discovered that the harmful rays Continue reading →

Renaissance inventions

Renaissance period ranging from AD 1300 to AD 1600 marks a period of human awakening in which the mankind leaped to the brighter modern era from the less bright middle ages. Inventions in the field of science and technology, developments in various art forms and formation of new faith, beliefs and practices in politics and religion during this period paved way for drastic changes in the intellectual, social and cultural perceptions of mankind. In this article we are going to explore the most important inventions during this period which have helped to change the Continue reading →

How to invent a new product

There are a lot of talented inventors all over the world who do not finish the process of inventing something just because they don’t know how to proceed and reach the end; i.e.; getting a working prototype of the invention ready for marketing. Invention is both an art and a science. You can apply Continue reading →