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The following statement is attributed to Gary Shapiro, president and CEO, Consumer Electronics Association (CEA), in response to the reintroduction of the Innovation Act of 2015 by Representatives Bob Goodlatte (R-Va.), Peter DeFazio (D-Ore.), Darrell Issa (R-Calif.), Jerrold Nadler (D-N.Y.), Lamar Smith (R-Texas) and Anna Eshoo (D-Calif.):
“With a committed Congress and White House rallied around the issue, I am hopeful that this will be the year Congress protects American businesses and innovators from extortionate patent trolls. We applaud the bipartisan group for introducing the Innovation Act, which will hold patent trolls accountable for their frivolous lawsuits and baseless threats.
“The immense amount of money spent fighting bogus patent lawsuits amounts to a massive tax on consumers and a drain on investment, American innovation and job creation. The unchecked growth of patent trolls harms the U.S. economy – bleeding another $1.5 billion every week – and makes it difficult for American businesses to compete internationally.
“We look forward to working with members of the House and Senate on the passage of this bill to drive trolls back under the bridge.”
The Consumer Electronics Association (CEA) is the technology trade association representing the $223 billion U.S. consumer electronics industry. More than 2,000 companies enjoy the benefits of CEA membership, including legislative and regulatory advocacy, market research, technical training and education, industry promotion, standards development and the fostering of business and strategic relationships. CEA also owns and produces the International CES – The Global Stage for Innovation. All profits from CES are reinvested into CEA’s industry services. Find CEA online at www.CE.org, www.DeclareInnovation.com and through social media: http://www.ce.org/social.