SB 706 - This act prohibits bad faith assertions of patent infringement. This act creates a nine factor test that a court shall consider when determining if a person has made a bad faith assertion of patent infringement. Additionally, this act creates a seven factor test that the court shall consider as evidence that a person has not made a bad faith assertion of patent infringement.
Upon a finding by a court that a person has made a bad faith assertion of patent infringement, the court shall require the person making the bad faith assertion of patent infringement to post a bond not exceeding $250,000, unless the court waives the bond requirement. Further, a person aggrieved by a bad faith assertion of a patent infringement may bring an action in circuit court. If the person aggrieved prevails, the court may award equitable relief, damages, costs and fees, and exemplary damages equal to either $50,000 or three times the total of damages, costs, and fees, whichever is greater.
This act allows the Attorney General to investigate, restrain, and prosecute bad faith assertions of patent infringement claims. Any monetary awards recovered by the Attorney General shall be credited to the Antitrust Revolving Fund for the payments of expenses incurred by the Attorney General in the course of investigation, prosecution, or enforcement of such patent infringement claims.