The U.S. Department of Commerce and U.S. Patent and Trademark Office (USPTO) along with the White House today announced major progress on a series of Administration initiatives to strengthen the patent system and foster innovation. U.S. Secretary of Commerce Penny Pritzker, joined by Gene Sperling, Assistant to the President for Economic Policy and Director of the National Economic Council; Todd Park, Assistant to the President and U.S. Chief Technology Officer; and Michelle Lee, USPTO Deputy Director discussed the importance of improving the U.S. patent system and protecting innovators from “patent trolls.” Secretary Pritzker made the following remarks at today’s White House event: “As someone who has worked in business for 27 years, I know first-hand that protecting and promoting our ideas-driven economy is essential to economic growth. Today’s executive actions show President Obama’s recognition of the work we must do to constantly strengthen our intellectual property (IP) system. Intellectual property-intensive industries account for over one-third of our nation’s Gross Domestic Product and nearly 28 percent of jobs, according to the latest data. Clearly, IP protection is a pillar of the U.S. economy, and we should be doing everything possible to ensure a smart, 21st century patent system. Overall, the goal of these executive actions is to enable America’s entrepreneurs and businesses to focus their time and resources on what they do best – drive innovation, increase U.S. competitiveness, and create jobs – not wasting money in courtrooms.” White House Executive Actions on Patent Reform The three executive actions announced today aim to help American entrepreneurs and small business owners more effectively deal with abusive litigation practices and help ensure the U.S. patent system keeps up with the evolving needs of industry. Specifically, those actions are: As part of Obama Administration and Commerce Department efforts to support the innovation economy, Secretary Pritzker, Deputy Director Lee and several other Commerce Department officials will travel to Silicon Valley, California next week to highlight efforts to spur U.S. economic growth. Support for innovation and competitiveness, including protecting intellectual property, is a key pillar of the Department’s “Open for Business Agenda.” Additional details on the Silicon Valley trip are forthcoming. For more information, visit www.commerce.gov or contact publicaffairs[at]doc[dot]gov. To learn more about today’s patent announcements, visit: http://www.whitehouse.gov/the-press-office/2014/02/20/fact-sheet-executive-actions-answering-president-s-call-strengthen-our-p.
Source: U.S. Department of Commerce
