WASHINGTON, D.C. – House Majority Leader Eric Cantor (R-VA) today released the following statement in support of the Innovation Act. This bipartisan legislation takes steps toward combating the problem of abusive patent litigation which costs businesses tens of billions of dollars each year and limits innovation and job creation.
“The Innovation Act provides incentives for innovation so start-ups and young entrepreneurs can focus on advancements and new technology rather than costly and frivolous lawsuits. The lack of transparency in the current patent system and abusive patent litigation drain billions of dollars from our economy, stifle innovation, and limit job creation. I appreciate Chairman Goodlatte’s and the Judiciary Committee’s work on this bipartisan legislation that will return stability to the patent system and increase American job creation, ingenuity, and economic security.”