WASHINGTON, Feb. 25, 2014 /PRNewswire-USNewswire/ -- Patent Progress, providing timely information and analysis on the high-tech patent landscape, today released a video highlighting the stories of two patent troll victims based in Illinois who have been attacked multiple times. Their stories uncover the stark realities of patent troll attacks, including the negative impacts on business, family, innovation and the overall economy.
The two victims featured, Karl Gnadt, managing director designate of the Champaign-Urbana Mass Transit District and Todd McNutt, president of MCS Office Technologies, a small business based in Gibson City, Ill., illustrate the wide range of businesses being attacked and underscore the significant impacts of the frivolous lawsuits filed by patent trolls.
McNutt had to close an entire product line and let go five employees as a result of the financial impact settling the lawsuits had on his business. According to his lawyers, fighting the lawsuit in court would have been even more financially devastating.
"It's very frustrating to me to look back at what we had to shut down because of one single patent troll," McNutt said.
Both Gnadt and McNutt are fed up with the threats and are encouraging other business owners to get involved to push for reform at a federal level.
"There's a need for reform because this isn't going to stop," Gnadt states. "This is just the beginning."
"These two stories are powerful examples of how patent trolls are attacking innovation and grim reminders of why patent trolls need to be stopped," said Matt Levy, patent counsel at the Computer and Communications Industry Association (CCIA) and lead blogger for CCIA's Patent Progress. "Business owners and entrepreneurs across the country are being unfairly attacked by patent trolls every day."
More information on the patent troll issue and a link to the full victim video can be found here.
About Patent Progress
Patent Progress provides useful information and timely analysis for navigating the high-tech patent landscape. We address the patent wars, trolls and privateers that have engulfed the technology sector in an unprecedented storm of multi-jurisdictional, worldwide patent litigation, along with the conflicting incentives and systemic failure at the heart of the challenge. Patent Progress identifies the misalignments and asymmetries and how the system can be reformed to promote innovation instead of conflict and litigation.
SOURCE Patent Progress