Obama Takes On Patent Trolls

President Obama is set to take on patent-holding firms, also known as “patent trolls.” The firms, according to the White House, burden tech and financial companies with expensive litigation and build their profits not by creating new products but rather by using the legal system to leverage licensing fees. Two major steps the administration would like to implement are requiring patent holders to disclose the owner, preventing lawsuits by shell companies, as well as creating sanctions against overly litigious firms deemed abusive.