In an op-ed published April 30th in DC’s "The Hill" newspaper, NAR President Chris Polychron laid out the problems that the real estate industry and other Main Street businesses are experiencing with patent trolls. Patent trolls suck $29 billion out of the economy each year. Trolls take their toll on the economy by exploiting the patent system, hiding behind vague demand letters and shell corporations, while extorting payments from unsuspecting businesses. Even Realtors® have found themselves the targets of these lawsuits for using common technologies, such as using a scanner attached to a network or providing search features on their websites. The op-ed is a component of NAR’s work with the United for Patent Reform Coalition which is advocating for much needed federal patent reform legislation to address the patent troll problem.
To read the op-ed, go to: http://thehill.com/blogs/congress-blog/economy-budget/240587-keep-trolls-away-from-productive-businesses
To learn more about NAR’s patent reform legislative advocacy, visit NAR Government Affairs’ Patent Litigation Reform pages.