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CEA Commends U.S. Senate for Tackling Patent Reform

Arlington, VA – March 19, 2015 – 

The following statement is attributed to Gary Shapiro, president and CEO, Consumer Electronics Association (CEA)®, regarding today’s Senate Small Business and Entrepreneurship hearing, and yesterday's Senate Judiciary hearing on the impact of abusive patent litigation practices have on American businesses:
 
“Since December of 2013 – the last time Congress acted on patent reform legislation – patent trolls have bled over $100 billion from the U.S. economy. And with each week that passes, trolls send more demand letters to small businesses and startups, and drain another $1.5 billion from our economy. The immense amount of money spent fighting bogus patent lawsuits amounts to a massive tax for over 80% of victims who are startups or small and medium businesses. Blatant patent extortion needs to be stopped.”

 

 

About the Consumer Technology Assocation

The Consumer Electronics Association (CEA) is the technology trade association representing the $223 billion U.S. consumer electronics industry. More than 2,000 companies enjoy the benefits of CEA membership, including legislative and regulatory advocacy, market research, technical training and education, industry promotion, standards development and the fostering of business and strategic relationships. CEA also owns and produces the International CES – The Global Stage for Innovation. All profits from CES are reinvested into CEA’s industry services. Find CEA online at www.CE.org, www.DeclareInnovation.com and through social media.                           

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