Latest Anti-Troll Bill Would Overhaul Patent Law

Law360, New York (May 22, 2013, 8:16 PM EDT) -- A new piece of legislation aimed at cracking down on the tactics of so-called patent trolls, introduced in Congress on Wednesday, would make significant changes to patent law, setting stringent new pleading requirements, restricting discovery and creating a "loser pays" system.

The Patent Abuse Reduction Act, introduced by Sen. John Cornyn, R-Texas, joins three other bills now under consideration as companies that assert patents but do not make any products come under intense scrutiny from lawmakers.

Cornyn, a member of the Senate Judiciary Committee, said in...
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Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.