Reacting on the release of a new Government Accountability Office (GAO) report on the negative impact of patent trolls, The National Retail Federation (NRF) said, “This report affirms NRF’s position that patent trolls are increasingly threatening the U.S. economy.
“Patent trolls are growing in size and strength and exploiting legal loopholes to extort hefty payments from American companies, ranging from retail to technology.
"Trolls stymie technological innovation and ingenuity, and ultimately cost companies and consumers millions of dollars a year by driving up prices.
“NRF hopes this new GAO report focusing on the severity of patent trolls will spur further regulatory and Congressional examination, and ultimately lead to legislation aimed at thwarting patent trolls.”
As the world’s largest retail trade association and the voice of retail worldwide, NRF represents retailers of all types and sizes, including chain restaurants and industry partners, from the United States and more than 45 countries abroad. Retailers operate more than 3.6 million U.S. establishments that support one in four U.S. jobs – 42 million working Americans.