WASHINGTON--(BUSINESS WIRE)--The National Retail Federation today issued the following statement from Senior Vice President David French on the anticipated House vote on H.R. 3309, the Innovation Act:
“The National Retail Federation welcomes House action on the Innovation Act, and supports efforts aimed at combating overly-litigious and extortion-driven patent trolls, who continue to abuse our patent laws at the expense of Main Street merchants and consumers. Patent trolls not only tie up our judicial system with baseless and costly litigation, they also hinder technological innovation and adoption as well as overall economic growth.
“The Innovation Act is an important first step in restoring public trust and confidence in our valued patent system, and contains many resources that will help reduce abusive litigation, including discovery reform, fee shifting and heightened pleading standards.
“Retailers are pleased that the House is advancing patent litigation reform. NRF will now focus its attention to the Senate to advance further protections and safeguards, including incorporating an effective customer stay, addressing patent troll demand letter transparency, and expanding the covered business method patent program to protect all end-users.”
NRF is the world’s largest retail trade association, representing discount and department stores, home goods and specialty stores, Main Street merchants, grocers, wholesalers, chain restaurants and Internet retailers from the United States and more than 45 countries. Retail is the nation’s largest private sector employer, supporting one in four U.S. jobs – 42 million working Americans. Contributing $2.5 trillion to annual GDP, retail is a daily barometer for the nation’s economy. NRF’s This is Retail campaign highlights the industry’s opportunities for life-long careers, how retailers strengthen communities, and the critical role that retail plays in driving innovation. www.nrf.com.
Note to media: NRF Advocates for Fair Patent Laws