Reforming America’s patent system will accelerate economic growth and job creation, and expand America’s ability to innovate, according to a new report released today by the U.S. Department of Commerce. The paper, titled “Patent Reform—Unleashing Innovation, Promoting Economic Growth and Producing High-Paying Jobs,” was authored by the Commerce Department’s Chief Economist Mark Doms, the United States Patent and Trademark Office’s (USPTO’s) Chief Economist Stuart Graham and USPTO’s Administrator for External Affairs Arti Rai.
Highlights of the paper were first released today during a speech by Under Secretary of Commerce for Intellectual Property and Director of the USPTO David Kappos at the National Bureau of Research (NBER) “Innovation Policy and Economy” conference at the National Press Club in Washington, D.C.
“We stand at the precipice of passing patent-reform legislation in this session of Congress,” Kappos said in the speech. “By enhancing the ability of America’s innovators to secure high-quality patents with greater speed and certainty, this legislation will speed the delivery of innovative goods and services to market and fuel economic growth and job creation.” Technological innovation is a key driver of the Obama Administration’s pro-growth, job-creating agenda. The report suggests there are significant economic benefits to patent-reform legislation that will support that agenda.
Among the key statistics presented in the report are:
Source: U.S. Department of Commerce
