The U.S. Supreme Court on Tuesday gave its stamp of approval to a government review process prized by high technology companies as an easy and cheap way to combat “patent trolls” and others that bring patent infringement lawsuits. The justices ruled 7-2 that a type of in-house patent review at the U.S. Patent and Trademark Office does not violate a defendant’s right under the U.S. Constitution to have a case adjudicated by a federal court and jury.
Congress should be working to grow the economy instead of weakening it. And, with the introduction of the STRONGER Patents Act, they might just be doing that. What does it take to grow the economy? In some ways that question can be almost insurmountable, but in others it is just common sense.
The Chinese government has been aggressively incentivizing increased patent filings. In many ways, China’s innovation economy is a near photo-negative of the current iteration of the U.S. patent system.
Researchers are often forced to follow circuitous and time-consuming routes to access the journal articles they need, even when their institutions and organizations have legitimate subscription access. Not only do these barriers waste time and cause frustration, they are stifling the pace of scientific innovation.
We’re currently in one of the most pivotal moments in U.S. history. Technology is advancing at a faster pace than ever before, bringing with it unprecedented opportunities for businesses of all sizes and across all industries. We’ve seen digitization enable startups to compete on the same playing field as enterprises, tear down barriers to entry that prevented small businesses from scaling, boost GDP growth, and perhaps most profoundly, enrich the lives of our citizens.
China’s drive to lead the world in artificial intelligence is spurring American efforts keep its technological edge, especially when it comes to national security. A technology wave equivalent to the Industrial Revolution, electrification and mechanization, “intelligentization” has the potential to change the way wars are fought, as well as finance, medicine and transportation...
The STRONGER Patents Act was designed to “strengthen the United States’ crippled patent system” by restoring patents as property rights, making court standards uniform and giving startups a better chance to protect their property from entities with much greater resources while also stemming abusive demand letters sent in bad faith.
United States President Donald Trump is not the first to complain about intellectual property (IP) theft by Chinese companies but ironically it was US companies’ use of China’s resources that led to the development of its powerhouse of patents.
Innovation is a principal driver of U.S. economic growth. In 2018, the U.S. will spend an estimated $553 billion on research and development -- more than any other country in the world and over 25% of the world’s total -- helping the nation rank No. 4 on the Global Innovation Index. According to the results of the ranking, knowledge and technology outputs are America’s particular strengths.
Start-ups and garage inventors should spend every bit of their energy and capital getting their ideas to the public and pushing the next inventor to compete. Our bill, the STRONGER Patents Act, reforms the PTAB to deliver the original promise of the AIA, giving our inventors a patent system that is truly cheaper, faster, and fairer for everyone.