NAREIT and a number of other real estate industry groups wrote to Congress on April 15 to request the development of legislation to curtail patent troll abuses.
In a letter sent to the Senate and House Judiciary Committees, the organizations noted that lawsuits and “specious” infringement claims by non-practicing entities are on the rise. The disputes force real estate companies to divert resources to address sham disputes, rather than dedicating them to their businesses, according to the organizations.
“To be clear, validly issued patents warrant full protection to spur American innovation and ensure that U.S. businesses thrive in increasingly competitive marketplaces at home and abroad,” the organizations said. “Our concerns are with patent trolls who have no interest in producing any goods or services, have not put the sweat equity into the innovations they purport to protect, and simply wish to sue or otherwise coerce payments from real estate and other companies.”
(Contact: Kirk Freeman at email@example.com)