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Statement on the Senate Small Business Hearing on Patent Reform

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

“The Senate Small Business Committee hearing today highlighted an important issue for all small businesses. Patent trolls are a serious problem for small businesses and startups alike; the majority of troll targets have less than $10 million in revenue. These lawsuits harm innovation by slowing or shutting down promising businesses, costing our economy jobs and productivity.”

“It’s time for the Senate to pass patent reform legislation that protects small businesses by leveling the playing field in patent litigation and stops the abusive practices of trolls. This legislation must reform demand letters, limit discovery, allow for fee-shifting and protect end-users. These reforms will give businesses the tools to fight back and end the worst tactics of patent trolls. Patent reform will protect innovation and support the investment that helps small businesses succeed.”


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