Obama Blasts Patent Trolls, Says New IP Law Needed

Law360, New York (February 15, 2013, 6:31 PM ET) -- President Barack Obama said Thursday that the America Invents Act did not go far enough and that new patent reform legislation is needed to combat so-called patent trolls, which he likened to extortionists in a rare presidential statement about patent issues.

The president took questions from the public during a Google Hangout video chat, including one from an entrepreneur who said that many startups are worried that if they becoming successful, "they're going to be targeted by software patent trolls." She asked the president what could...
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