I was asked to speak before Congress on the important topic of Patent Trolls and how they are destroying small businesses. I was able to share my story (see written statement) on how a patent troll targeted our White Noise app.
Patent Trolls file countless frivolous lawsuits against small businesses claiming patent infringement. They give you an easy out in the form of a “License Agreement” which is really just payment for them to dismiss the lawsuit. Trying to fight them in court can cost millions which small businesses like mine cannot afford. In a recent op-ed featured on The Hill, I used the analogy of playing coin-operated arcade games–you will never have enough quarters to win.
I am the named inventor on multiple patents and appreciate the benefits of having a patent system that works. However, it’s wrong how patent trolls are abusing this system. These shell companies are hurting small businesses and ultimately our economy. My company supports the Innovation Act and I believe if passed into law it will fix many of the loopholes that allow patent trolls to abuse the system. Join the movement at declareinnovation.com and trollfighter.com. Encourage Congress to pass the Innovation Act so small businesses can get back to innovating, creating jobs, and building products people love.
Founder & CEO, TMSOFT