Over the last several decades, trial lawyers have found increasingly “creative” ways to use the legal system to enable themselves to cart off huge portions of legal settlements for themselves. Some of these high profile abuses made headline news, such as the class action exploitations of the 1990s. But actually being required to take a case to court does come with expense, and wanting to enhance their riches trial lawyers have found some new legal system weaknesses to exploit for less out of pocket expense.
Look, we get why Democrats want to use the giant-ness of the federal government to punish their enemies and reward their friends. Crony Socialism is in their ideological DNA. And they grow government as huge as possible – to then have the largest possible weapon to wield.
There are currently four patent “reform” bills being considered by Congress. Patents are a way innovators protect their ideas – which is how we as a society protect our continued economic viability. If people who invent cool stuff can’t protect their cool stuff from thieves – they’ll stop inventing cool stuff.
In a welcome show of bipartisanship, the U.S. Senate took a significant step in the direction of freer global trade in April. The Bipartisan Congressional Trade Priorities and Accountability Act of 2015 (TPA), cosponsored by Sens. Orrin G. Hatch (R-UT) and Ron Wyden (D-OR), is designed to fast-track approval of the Trans-Pacific Partnership (TPP), a landmark trade agreement currently under negotiation by the United States and 10 other Pacific Rim countries.
The GOP wants the Silicon Valley’s love. And by love we mean the millions of donation dollars that currently go mostly to Democrats. And sadly, it appears some Republicans will go to nearly any length to curry some of that coin.
You’ve heard the phrase “patent trolls,” yes? Certainly not a positive sounding term. I mean – trolls?How positive an image does that conjure? The Media are almost always opposed to all things good. So when they with near unanimity help promulgate a term – you need to (re)contemplate its definition.
Mythological trolls — described as old and ugly creatures living under bridges or in caves — are known for one central feature: generally troublesome and injurious to human enterprise. Much of the same can be said for today’s patent troll — the dubious business entity again drawing the ire of Congress that exists solely to acquire patents and make claims of infringement in court.
According to data released this week, Samsung and Apple make up the majority of the top 20 global smartphone models sold in the first quarter of 2014. While that success demonstrates the robust market prowess of these smartphone manufacturers, the real winners are the customers, getting more services, better products and lower prices. Almost the exact opposite happens when companies resort to lawsuits to gain market advantage, a sort of rent seeking via the courts.