The US senate is preparing to pass patent reform aimed at boosting the United States economy.
However, according to an article in Reuters, the patent reform, which has been drafted by the Obama administration, does very little to provide an alternative to costly litigation, which hurts innovation.
After being passed by the House of Representatives back in June, the Senate is now preparing to vote on patent reform on September 6.
Tech companies have little to gain from patent reforms as these reforms fail to provide an alternative to lawsuits, which are a sheer waste of time and resources.
“The tech sector wanted patent reform to offer alternatives to litigation. Instead, they have extensions of the patent process itself. That's fine for other industries, but not for tech," said Brian Kahin of the Computer and Communications Industry Association.
The number of patent infringement lawsuits could reach 3,000 this year if things remain the way they are, however.
Companies like Apple, Google, Microsoft, Samsung, Nokia and Oracle are embroiled in patent infringement lawsuits. In the current scenario, patents have become a tool for steamrolling competition instead of protecting one’s intellectual property.