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Statement on the IP Subcommittee Hearing Examining Recent Supreme Court Cases in the Patent Arena

WASHINGTON — The following statement can be attributed to Chris Polychron, president of the National Association of REALTORS®:

“While patent trolls are wreaking havoc on American businesses large and small, including many REALTORS® and other real estate professionals, there are some who say recent Supreme Court rulings have solved all our patent problems and there is no more need for patent reform legislation. Nothing could be further from the truth. Patent trolls continue their assault on American businesses, and the need for patent reform is greater now than ever. Many who have long opposed any patent reform pointed to the temporary drop in lawsuit filings after the CLS Bank vs. Alice decision and declared ‘mission accomplished.’ Not surprisingly though, after an initial decline in lawsuits, since November of 2013, patent suits have once again spiked—up 32% just last month and still at historic highs.

“Contrary to our opponents’ rhetoric, even after a half dozen major recent Supreme Court rulings, patent trolls are still filing the majority of these lawsuits and continuing to rob businesses of critical resources and drain billions of dollars from our economy. Patent litigation reform is about stopping patent troll’s lucrative business model of sending vague demand letters and using overly broad patents to file lawsuits and get shakedown settlements. After every big Court ruling, trolls adjust their tactics and go back to business as usual. Only Congress can pass the comprehensive reform needed to put them out of business for good. The recent introduction of the Innovation Act is a strong first step to making that a reality.”

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