House OKs bill to stop frivolous patent lawsuits

|By:, SA News Editor

The House has overwhelmingly passed legislation designed to discourage patent trolls from filing frivolous lawsuits by requiring them to disclose more information about who owns the IP involved and so who would ultimately benefit.

The measure, known as the Innovation Act, also requires judges to decide early on in the proceedings of a case whether a patent is valid, thereby potentially saving companies money on discovery.

The legislation now needs authorization in the Senate.

Patent companies include Vringo (VRNG), Wi-LAN (WILN) and Acacia Research (ACTG).