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Are Patent Trolls Hurting U.S. Economy?



It seems as if every time a high-tech company comes up with something new, another company files a patent lawsuit, saying they had it first.

Experts say all these lawsuits are significantly damaging the American economy by slowing innovation. But things may be changing. CBS News found a man who says he’s willing to risk it all to fight for what’s right. It’s his battle in the wider patent wars.

Wired.com reports the United States Patent and Trademark Office’s most recent proposal to modify patent fees, likely to take effect early next year, is the first change to the agency’s fee structure since recent patent reform granted the agency power to set its own fees. However, the new fee structure will accomplish little more than lowering costs for smaller patentees and universities at the expense of larger, more sophisticated patent owners.

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