President Obama addresses the patent trolls issue – Admits That Patent Trolls Just Try To Extort Money and Reform Needed..

 

 

 

 

 

 

 

 

 

 

 

 

Via Techdirt

I LIKE a president who addresses this issue ..

President Obama addresses the patent trolls issue – Admits That Patent Trolls Just Try To Extort Money and Reform Needed..

Question: High tech startups are an important engine of the American economy. When I go around and talk to other enterpreneurs, what I hear is that they’re afraid that if they become successful, they’re going to be targeted by patent trolls… What are you planning to do to limit the abuse of software patents?…

Obama: A couple years ago we began a process of patent reform. We actually passed some legislation that made progress on some of these issues. But it hasn’t captured all the problems.

The folks that you’re talking about are a classic example. They don’t actually produce anything themselves. They’re just trying to essentially leverage and hijack somebody else’s idea and see if they can extort some money out of them. Sometimes these things are challenging. Because we also want to make sure that patents are long enough, and that people’s intellectual property is protected. We’ve got to balance that with making sure that they’re not so long that innovation is reduced.

But I do think that our efforts at patent reform only went about halfway to where we need to go. What we need to do is pull together additional stakeholders and see if we can build some additional consensus on smarter patent laws.

This is true, by the way, across the board, when it comes to high tech issues. The technology is changing so fast, we want to protect privacy, we want to protect people’s civil liberties. We want to make sure the internet stays open. I’m an ardent believer that what’s powerful about the internet is its openness and the capacity for people to get out there and introduce a new idea with low barriers to entry. We also want to make sure that people’s intellectual property is protected. Whether it’s how we’re dealing with copyright, how we’re dealing with patents, how we’re dealing with piracy issues. What we’ve tried to do is be an honest broker between the various stakeholders and to continue to refine it — hopefully keeping up with the technology — which doesn’t mean that there won’t be some problems that we still haven’t identified and that we have to keep working on.

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