National Association of Realtors® President Chris Polychron released an official statement in support of the Protecting American Talent and Entrepreneurship (PATENT) Act of 2015.
“Realtors® lead the real estate industry by embracing new technology and innovation that provide consumers with services that are fast, convenient and comprehensive. Unfortunately, avid technology users are unknowingly putting themselves at risk for litigation brought on by so-called patent trolls who buy questionable and overly vague patents, often by the hundreds or thousands, and use them to demand that operating companies pay a licensing fee or face litigation. NAR members know firsthand that patent trolls divert significant time and money away from their businesses and strongly support legislation to curb those abuses,” Polychron stated.
“The comprehensive reforms proposed in the PATENT Act, including to demand letters, are a good first step toward strengthening and restoring an essential balance to the patent litigation system, which has been urgently needed for years.”
This sentiment has been echoed by New Jersey REALTORS®, who called upon members of Congress to support patent reform during March Hill Visits. Without meaningful patent litigation reform, REALTORS® and other business owners will remain targets of extortion.
NAR has also released a short video on patent litigation, including first-hand accounts from REALTORS®.