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America Invents Act: Win for Innovators and Job Creators
Yes, Congress can occasionally get things done. Yesterday, the Senate followed the House of Representatives in passing the American Invents Act, an important piece of legislation that will revitalize the patent system. The legislation will ensure the U.S. Patent and Trademark Office (USPTO) has the necessary resources to reduce its backlog, which in turn promotes innovation, creates jobs, and strengthens U.S. competitiveness.
By sending this bill to the President’s desk, Congress has taken meaningful action to advance and harmonize America’s patent system in such a manner that allows us to continue to compete in the international marketplace.
The legislation ensures that the USPTO is adequately staffed, efficiently operated, fully funded to reduce backlog, and process patent and trademark applications in a high-quality and expeditious fashion. A key component of the bill is section 22, which provides the USPTO with the tools and resources it needs to address the current backlog of 1.2 million applications and to reduce the current pendency time of 3 years, which is essential to encouraging innovation and bolstering the U.S. economy.
Better patents lead to products and innovations that generate jobs and drive economic growth. The American Invents Act is a good step forward to help reinvigorate the American economy and promote job growth.
Global Innovation Policy Center @globalIPcenter 1d
Economies with the most effective intellectual property (#IP) frameworks are more likely to achieve the socio-economic benefits needed to face our biggest challenges, like #COVID19. Get the details in the @USChamber #IPIndex. #IPEnables https://t.co/oVnRXbS15m