Removing Barriers Blog

Senate Judiciary Committee Markup of S. 1137, the “PATENT Act”
Posted June 04,2015 by CUNA Advocacy

The Senate Committee on the Judiciary held a markup of S. 1137, the “PATENT Act” today. The bill passed the Committee by a vote of 16 – 4.  

CUNA joined with other financial services trade groups in a letter to the Committee leadership thanking them for introduction of the bill. The group expressed two priorities when it comes to patent reform legislation:

  1. Demand letter reform and enhanced transparency; and
  2. Extending the duration of the Covered Business Method (CBM) program.

The bill address the problem of demand letters from patent trolls by requiring that demand letters include clear and detailed information like: the owner of the patent, what entities have a financial interest in the patent, what product or services is allegedly being infringed upon and how such a product or service causes infringement. CUNA believes that the reforms in this bill would significantly curb vague and deceptively worded demand letters. We expressed that this provision is critical as the bill moves forward. The next step for the bill will be Senate consideration, many Senators expressed interest in continuing to work on the bill and have a thorough debate on it as it moves forward. As the bill moves through the process CUNA will continue to advocate for the demand letter provision. If you would like more information on CUNA’s position on patent reform see our talking points here