News release — Congressman Rick Larsen, a Second District Democrat, today voted to pass the Innovation Act, a bill that would crack down on entities that abuse the patent system to make money from other people’s innovations.

These patent assertion entities, often referred to as patent trolls, cost American businesses an estimated $29 billion a year, according to a statement released by Larsen’s office Thursday.

“Small businesses are a key engine of job growth and innovation for our economy,” said Larsen, in the release. “Too often small businesses are slammed with false patent infringement claims, which cost millions to litigate in court. Many small businesses feel they have no choice but to pay licensing fees for their own innovations because they cannot afford to defend themselves in court.

“I voted for the Innovation Act because it will increase transparency in patent infringement cases and let the U.S. Patent and Trademark Office help small businesses protect their property. This bill will help small businesses continue to innovate, creating new products and new jobs.”

To learn more about the Innovation Act, click here.