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States Revise Laws to Curb 'Patent Trolls'

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By Ruth Simon and Angus Loten States are rewriting their laws to make it more difficult for so-called "patent trolls" to pursue small businesses over questionable patent claims.At issue are patent claims made by companies that don't produce any goods or services, but instead purchase patents and then seek profit from them. These firms typically send so-called demand letters to companies seeking royalties and threatening legal action for patent infringement.

Loan Scheme Delivers Blow to Small Businesses

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By Sarah E. Needleman and Ruth Simon Tisto Chapman, an owner of a Powerhouse Gym in Burbank, Calif., said that in August he paid a St. Louis broker thousands of dollars to help him obtain a bank loan to upgrade his facilities and refinance debt. It seemed like a no-lose proposition, in part because the broker, Richard Saddler, promised to refund him the $12,500 fee if the loan didn't materialize, Mr. Chapman said. In the next month and a half, Mr. Saddler repeatedly reassured Mr. Chapman that the loan was being processed, according to the gym owner.

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