Intellectual Ventures Starts Political Action Committee; Clearly Worried That Serious Patent Reform Might Actually Happen This Time

from the not-really-panicking dept

As we noted last year, Intellectual Ventures started out insisting that it was a licensing company, not a patent troll. But it soon spoiled that story by filing more and more lawsuits, probably because it was running out of cash. A couple of weeks ago it laid off workers, too. But however rough things have been for Intellectual Ventures recently, they are likely to get a lot worse. That's because Congress looks like it might finally try to reform the patent system in a meaningful way that makes life harder for patent trolls. That's doubtless why Intellectual Ventures opened up a Washington DC office last year; and it also probably explains the following move, as reported in The Hill:

A company accused of being the world's largest "patent troll" is ramping up its presence in Washington by starting a political action committee that could contribute to campaigns.

Intellectual Ventures, which is one of the country's top patent owners but makes few of its own products, filed to organize the committee with the Federal Election Commission this week.
According to Ars Technica, the company has already been quite active on the lobbying front for a while:
For each of the past four years, Congressional lobbying records show that IV has spent about $1 million annually advocating to lawmakers in areas like patent policy and litigation reform. In 2007 and 2008, it spent around $900,000. Back in 2005, it spent $440,000.
Now we sit back and watch which politicians will suddenly discover serious doubts about the need for any of that patent reform nonsense....

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Filed Under: patent reform, troll
Companies: intellectual ventures

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  1. icon
    John Fenderson (profile), 3 Mar 2014 @ 1:34pm

    Re: Re: Re: Doubts?

    "Nothing is going to change until you get serious about throwing the incumbents out and getting rid of the lobbyists"

    Even then, nothing will change until we fix the money problem.

    "there are ways to counter that now through use of social media such as Twitter and Facebook."

    Oh? Please enlighten us! Here's why the money is needed -- as soon as a decent candidate announces, he is subjected to a tidal wave of TV, radio, newspaper, etc., ads telling everyone how evil he is. Money is needed to put up the counterarguments. Countering through social media alone is completely futile in the face of that onslaught. It's essentially farting into the hurricane.

    "To all of you in the US, please stop spending so much time on beer, sports and entertainment, and take a good look at where your country is headed."

    Nice brush you have there. How did you find one that broad? For the record, the majority of the people here know exactly where our country is headed. And most of the people I know in real life are equally clued in.

    I think you don't understand what the real problems here are.

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