House passes Innovation Act targeting patent 'trolls'

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The U.S. House of Representatives passed legislation today designed to crack down on so-called “patent trolls,” earning kudos from the National Association of Realtors.

“The Innovation Act of 2013 … will help curb abusive patent litigation and licensing schemes that are increasingly harming Realtors and Main Street business owners,” said NAR President Steve Brown in a statement.

“NAR will continue to support legislative efforts to prevent fraudulent claims from ‘patent trolls,’ who divert significant time and money away from Realtors and their businesses.”

But Jeff John Roberts of Gigaom said the legislation did not address the root cause of the proliferation of frivolous patent lawsuits: the granting of too many low-quality patents.

Sources: Realtor.org; Gigaom