. >> the company was called smart options l.l.c. it acquired a u.s. patent officially known at 7313539 and essentially held the right to the idea of using a computer network to reserve future purchases of goods and services over the internet. a judge called the lawsuit frivolous and ruled in peter's favor, but smart options appealed and that's all that was needed. >> i ran out of money. >> in the end jump rope, as he envisioned it wouldn't survive. the cost of that fight ultimately left him broke roughly two thirds of all patent suits are brought on by companies that don't in vent or sell anything. instead, they buy or license patents and earn money by threatening lawsuits and collecting settlements. in fact, an estimated 90% of these cases end with a cash settlement and critics have a term for them. they call the plaintiffs in these cases patent trolls and they cost investors half a trillion dollars since >> i launched an enhanced patent quality initiative last fall. it's the job to issue the best quality patents. company's rely on a patent right, yo

u.s., l.l.c., formerly known as chrysler. we have a mission re-we emigration with passion. as you know f.c.a.'s involvement with takata air bags is extensive, proactive and ongoing. today's automobiles are among the most sophisticated and complex consumer goods on the market. auto manufacturers are more committed than ever to developing advanced safety technologies to reduce fatalities and injuries resulting from motor vehicle crashes. on a daily basis, we work to design, engineer and manufacture vehicles to withstand a myriad of operating conditions. promoting and ensuring vehicle safety is a responsibility shared by automakers, suppliers, government and even consumers. f.c.a. looks forward to continuing this collective engagement with takata and nhtsa to help address this critical situation related to air bag inflators. f.c.a. has remained actively engaged with takata since i spoke with this committee last year. much as transpired since that time. through multiple campaign expansions and based on information from both takata and actions by nhtsa, f.c.a. is now in the proc

u.s., l.l.c. formerly known as chrysler. we have a mission re-we emigration with passion. as you know f.c.a.'s involvement with takata air bags is extensive, proactive and ongoing. today's automobiles are among the most sophisticated and complex consumer goods on the market. auto manufacturers are more committed than ever to developing advanced safety technologies to reduce fatalities and injuries resulting from motor vehicle crashes. on a daily basis, we work to design, engineer and manufacture vehicles to withstand a myriad of operating conditions. promoting and ensuring vehicle safety is a responsibility shared by automakers suppliers, government and even consumers. f.c.a. looks forward to continuing this collective engagement with takata and nhtsa to help address this critical situation related to air bag inflators. f.c.a. has remained actively engaged with takata since i spoke with this committee last year. much as transpired since that time. through multiple campaign expansions and based on information from both takata and actions by nhtsa, f.c.a. is now in the proce