May 28, 2015 – DALLAS, TEXAS –Dominion Harbor Group, LLC, an intellectual property advisory and investment firm, praised Texas state leaders today upon passage of Senate Bill 1457. The new law is intended to protect Texans and their businesses from “Bad Faith Claims” in patent infringement demand letters and allows the attorney general to bring action on behalf of the state to enjoin any party sending such letters, as well as creating civil penalties for violations of the proposed law.
“As a Texas company, we strongly support efforts to address the use of patents in bad faith to harm Texas businesses and business owners,” said David Pridham, chief executive officer of Dominion Harbor Group. “At a national level, Congress should take note that targeted reform is possible to improve the patent environment.”
SB 1457, by Texas Senator Van Taylor of Plano, received bi-partisan support in the Legislature. SB 1457 passed in the Texas Senate by a vote of 30-0 on April 21, 2015, and in the Texas House of Representatives by a vote of 138-2 on May 22, 2015. Dominion Harbor Group is advocating with state and federal leaders to promote similar reforms on a national level.
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About Dominion Harbor Group, LLC – A Rational Actor in a Complex Intellectual Property Marketplace
Dominion Harbor Group was founded by seasoned legal, technical, engineering and financial professionals dedicated to the premise that patents are a sacrosanct and critical component of the United States and global commercial marketplaces. The firm’s highly specialized and talented team manages, helps protect and preserve intellectual property portfolios, maximizes values of patent portfolios through licensing, helps enforce and defend clients’ critical intellectual property rights, and advises owners and investors in realizing appropriate value for innovations and risk taking in the patent market. www.dominionharbor.com