The introduction of Protecting American Talent and Entrepreneurship (PATENT) Act of 2015 represents a major milestone on the long road to patent reform. On behalf of Cisco, let me thank Senators Grassley, Leahy, Cornyn, Schumer, Lee, Hatch and Klobuchar for their work to forge bipartisan support for this legislation.

The problem of abusive patent litigation lawsuits continues to grow, costing our nation's economy billions of dollars every year. Patent assertion entities don't make or produce anything, instead they use abusive tactics to force settlements and drive up legal fees. This has got to stop.

The legislation introduced today is a significant step forward. It has strong fee-shifting provisions, makes important discovery reforms, and protects users of technologies from abusive demand letters.

Cisco stands ready to work with the bill sponsors and other stakeholders to make this legislation even stronger as it moves its way through the legislative process. Now is the time for Congress to pass meaningful patent reform and end the abusive business model of patent assertion entities.