Market Stats Patent trolls have become a serious issue in the real estate industry. REALTORS® across the country have received threatening letters, and even faced lawsuits alleging patent infringement, for the use of common business tools, such as drop-down menus, search-alert functions on websites, and the scanner function on a photocopier.
Since NAR issued the this Call For Action, only 5.5 percent of Honolulu Board of REALTORS® have participated. Our participation goal is 15 percent--take action today to help HBR reach this goal: visit the REALTOR Action Center.
The companies alleging the infringement are trying to collect licensing fees in exchange for the use of the tools. San Francisco real estate broker Vince Malta, who testified earlier this year on behalf of NAR and the United for Patent Reform Coalition, told a House Energy and Commerce subcommittee at a hearing that "patent trolls are using vaguely worded demand letters to bully REALTOR®-owned businesses into paying exorbitant ransoms for using everyday business practices like scan-to-email technology and website features like searchable property listings. … Trolls are exploiting the patent litigation system at the expense of legitimate businesses that contribute to the economy. Congress needs to pass meaningful reforms, including transparency requirements for demand letters."
For more information, visit NAR's Patent Litigation Reform page or watch this video.
