In PFF's press release: Myhrvold addressed what he called the "Myths of Patent Reform". These myths included an increase in patent litigation, the abundance of "patent trolls," the prevalence of "bad patents," patents are primarily registered to protect products, patents hurt innovation, and small or independent inventors are of no importance to the technology industry. Citing numerous statistics, Myhrvold argued that these myths have no basis in fact and must not drive any future patent reform.

"Before you get worked up about this gigantic problem, you ought to see what the facts are. Almost everything you have heard about patent litigation statistics is not true," Myhrvold said. "Patents are the least litigious part of intellectual property law."

"There isn't any hard data to support" that patent trolls are stealing the bread out of corporate waifs' mouths, Myhrvold told the conference. "This is a great example of people having a bunch of anecdotes... I don't see that it's wrong to invent without making products."