House passes measure setting limits on some patent lawsuits

News Update:
The U.S. House passed legislation to rein in some patent lawsuits that technology companies say could reduce the time they spend fighting such suits in court. 

The measure is “a great step in the right direction,” said Michael Beckerman, chief executive officer of the Internet Association, whose members include Google (GOOG), Facebook and Yahoo(YHOO). “There are so many abuses in the system that it needs to be addressed. It’s become an extortion game based on, ‘We know your legal costs are going to be high, so you’re going to settle with us.'”

Senate Judiciary Chairman Patrick Leahy has introduced a different patent bill that may come up for a vote in 2014. Those measures would have to be merged before President Barack Obama could sign it into law.

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