ARLINGTON, Va. -- (BUSINESS WIRE) -- The following statement is attributable to Gary Shapiro, president and CEO of the Consumer Electronics Association (CEA)®, in response to introduction of the Stopping the Offensive Use of Patents, or STOP Act, by Reps. Darrell Issa (R-Calif.) and Judy Chu (D-Calif.):
“Reps. Issa and Chu’s STOP Act is a strong step toward restoring sanity to patent litigation and making it easier for companies to fight back against frivolous lawsuits by so-called patent assertion entities (PAEs or patent trolls).
“By enabling defendants to seek review of a patent’s validity, the bill creates a quick, cost-effective alternative to litigation. Without having to face the immediate potential of millions of dollars in legal fees, companies targeted by trolls will face less pressure to pay money to resolve baseless lawsuits.
“Frivolous patent litigation has reached epidemic proportions. In combination with other common-sense legislation and the reforms proposed by the White House, the STOP Act will help drive patent trolls back under the bridge and allow our innovation economy to move forward.
“We thank Reps. Chu and Issa for standing up for innovators, and standing against those who have hijacked our patent system to shake down legitimate businesses.”
The Consumer Electronics Association (CEA) is the preeminent trade association promoting growth in the $209 billion U.S. consumer electronics industry. More than 2,000 companies enjoy the benefits of CEA membership, including legislative advocacy, market research, technical training and education, industry promotion, standards development and the fostering of business and strategic relationships. CEA also owns and produces the International CES – The Global Stage for Innovation. All profits from CES are reinvested into CEA’s industry services. Find CEA online at www.CE.org, www.DeclareInnovation.com and through social media: http://www.ce.org/social.