Senate Plans to Pass 'Costly' Bill for Patent Trolls (VRNG) (VHC)
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Vringo (Nasdaq: VRNG) and VirnetX (AMEX: VHC) are on watch Thursday following reports that lawmakers will move to make frivolous lawsuits more expensive for losers.
Reuters said that U.S. senators will look to add a
The change would call for losers to cover winners' legal bills. The move aims to deter companies from prolonged, frivolous cases.
The bill would also call for patent holders to disclose ownership and let manufacturers step in an protect consumers accused of infringing certain patents. Examples of such cases would be small business like coffee shops, retailers, and others that offer free WiFi for customers.
While there are other, more-private companies out there issuing demands to pay for infringement aside from Vringo and VirnetX, those are the two most well-known publicly-traded companies that derive business from this exact manner. Generally, those two companies go after larger enterprises versus single consumers.
Shares of Vringo lower, while VirnetX is positive in afternoon trading.
Reuters said that U.S. senators will look to add a
lose paysamendment into a bill, which many believe will have a good shot at passing into law.
The change would call for losers to cover winners' legal bills. The move aims to deter companies from prolonged, frivolous cases.
The bill would also call for patent holders to disclose ownership and let manufacturers step in an protect consumers accused of infringing certain patents. Examples of such cases would be small business like coffee shops, retailers, and others that offer free WiFi for customers.
While there are other, more-private companies out there issuing demands to pay for infringement aside from Vringo and VirnetX, those are the two most well-known publicly-traded companies that derive business from this exact manner. Generally, those two companies go after larger enterprises versus single consumers.
Shares of Vringo lower, while VirnetX is positive in afternoon trading.
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