AICPA Urges Congress to Take Action Against Patent Trolls

Accounting Today

The American Institute of CPAs is asking Congress to pass legislation that would crack down on so-called “patent trolls,” companies that buy up old patents and threaten lawsuits unless they receive high licensing fees from firms and corporations. In letters to lawmakers in the House and Senate, the AICPA expressed support Wednesday for legislation in each chamber “that we believe will protect our members and countless other individuals and businesses from unwarranted litigation from ‘patent trolls’.” Signed by AICPA president and CEO Barry C. Melancon, the letters urge support for S. 1137, the PATENT Act, in the Senate, and H.R. 9, The Innovation Act, in the House.