Daily Archives: May 8, 2014

And The US Government is Letting the Patent Pirates Plunder Away …

With the exception of Nova Scotian Pirates, Sourcing Innovation is quite negative where pirates are concerned. But not all pirates are created equal – some are much more pernicious than others. And the most pernicious of all the pirates are the Patent Pirates who should be made to walk the plank as soon as possible.

But thanks to the slow movement of the Senate Judiciary Committee, which broke for April Recess before finishing what would have been a historic deal to curb the scurrilous practices of patent trolls, as per this recent VentureBeat article on how Waiting for Patent Reform is Costing Us Billions, they are taking bigger hauls than ever. If the pirates of old had known how profitable it would be to plunder patents, they would have used their black magic to put themselves into a Rumplestiltskin sleep for 300 years so that they could wake up to the richest haul in history. (Even the haul of the richest Columbian drug lords pale in comparison to the haul of the patent pirates.)

To put the problem into perspective, the U.S. Economy loses approximately $1.1 Billion to the patent pirates for every two week delay! Imagine what it could do with $1.1 Billion. Not only do we need a “loser pays” bill for patent lawsuits, but we need a bill that prevents patent trolling in the first place! Patent plundering kills innovation – not something the US economy can afford right now.