Trolls purchase arcane patents and then sue susceptible companies to extract hefty payments, whether in the form of licensing agreements or legal settlements.
“Patent trolls are increasingly targeting chain restaurants and retailers. Traditional brick-and-mortar merchants and e-commerce companies alike have had to deal with a growing number of patent troll lawsuits over the last few years. Restaurants and retailers are targeted by trolls not just for their use of cutting-edge technology and innovations but for more practical applications as well.
“Patent trolls account for close to half of all patent lawsuits in the United States, and their suits cost the economy tens of billions of dollars a year. Lawsuits that hamper technological innovation and adoption, crowd our court system, and ultimately drive up costs for retailers and prices for consumers.
“Addressing and combating the rise of patent trolls is a top priority for retailers, and the introduction of this bill shows that it is a growing congressional priority as well. NRF welcomes continued congressional attention to patent troll abuse, and looks forward to working with policymakers to bring the issue under control.”
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. Contributing $2.5 trillion to annual GDP, retail is a daily barometer for the nation’s economy.
National Retail Federation
Textiles | On 23rd Jan 2017
The US textile industry is eager to work with President Donald Trump...
Textiles | On 23rd Jan 2017
US based producer of petrochemicals and speciality chemicals...
DLF Emporio and DLF Promenade
‘Each event and promotion is planned out keeping in mind the business of...
Moving towards sustainability is also a social change
Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli
‘The percentage share of printing in the global textile market is pretty...
Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...
Biovation II LLC
Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...
Suominen Corporation is a manufacturer of nonwovens as roll goods for...
"We should not compare India and the West. There are things we do that...
Bani Batra’s couture wedding collection is inspired by traditional Indian...
Rupa Sood and Sharan Apparao
Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...
Apparel/Garments | On 23rd Jan 2017