HP Welcomes Introduction of Patent Reform Legislation

PALO ALTO, Calif., The following is a statement from Michael J. Holston, HP general counsel and executive vice president:

“HP welcomes today’s introduction of patent reform legislation in the House and Senate, and thanks Senators Patrick Leahy and Orrin Hatch and Congressmen John Conyers and Lamar Smith for championing improvements in our country’s patent system.

“As one of the nation’s largest patent holders – HP is on average granted four U.S. patents every day – HP is a constant target of frivolous patent lawsuits. These lawsuits force HP to divert resources away from innovation and product development, leading to reduced economic benefits from invention. Reforming the patent system will reduce costly litigation and free up valuable resources for research and development.

“Throughout our nation’s history, innovation has been a key factor in shaping and strengthening the economy. We encourage Congress to pass patent reform legislation this year so that innovators and businesses can aid the process of economic recovery.”

HP, the world’s largest technology company, simplifies the technology experience for consumers and businesses with a portfolio that spans printing, personal computing, software, services and IT infrastructure. More information about HP (NYSE: HPQ) is available at http://www.hp.com.