The National Association of REALTORS® (NAR) is asking members of the Silicon Valley Association of REALTORS® and other members of the national trade association to tweet their Senators to support patent reform. This is NAR’s first ever Twitter Call for Action.

“Patent trolls” are companies that own a large quantity of patents. Often, they do not produce any goods. The business model is to just own patents and sue or threaten to sue anyone who potentially violates the patent. As small business owners, REALTORS® are exposed to these threats of litigation, often for using basic business technology, like drop-down website menus, mapping features, and online checkout carts.

Many small business owners who receive one of these threatening letters will settle the case because that is less expensive than going to court. A number of multiple listing services have been required to pay millions of dollars in licensing fees due to a patent troll suit. Patent trolls sue more non-tech companies than tech companies, and have cost the U.S. economy $80 billion in litigation costs in 2012.

If you are a REALTOR® go to Twitter Call for Action for complete details on connecting to your Senators on Twitter.

For more information about Patent Litigation Reform and why NAR supports this bill, please visit NAR’s Patent Reform Litigation Reform page.

Advertisement