Posted on 07/06/2009 5:47:54 PM PDT by Kaslin
The Senate faces a remarkable opportunity to advance the competitiveness of the U.S. economy, and create jobs through innovation, at a time of unprecedented economic turmoil.
And it can be done without investing any taxpayer dollars.
The patent reform bill recently passed the Senate Judiciary Committee, with overwhelming, bipartisan support. The bill deserves passage by the full Senate and ultimately the full Congress.
Since our patent laws were last updated 50 years ago, the importance of intellectual property to our economic well-being has risen dramatically, and technology, products and business models have become more complex. Yet the laws have not been adapted to reflect these changes and must be modernized.
According to the U.S. Chamber of Commerce, the industries that rely most heavily on intellectual property employ nearly 18 million workers.
These sectors account for more than $5 trillion of the gross domestic product, comprise more than half of our exports and represent 40% of economic growth.
(Excerpt) Read more at ibdeditorials.com ...
I am all for doing something about the patin office. I filed for one back 6 yrs ago. Biggest waste of time and money, Still unresolved, still waiting.
I am just going to drop it. I feel I am just feeding a beast that is hungry.
Since the US has decided to become an idea based economy rather than a manufactured goods based economy, this is long overdue. On the other hand, how would any new patent laws be enforced? China and Russia could care less (not to mention any 3rd World economy). Just pay the small fine and reap huge profits.
“According to the U.S. Chamber of Commerce, the industries that rely most heavily on intellectual property employ nearly 18 million workers. “
This is probably the most useless piece of information the newspaper could find. What the heck does this even mean?
Rely on intellectual property? Big pharma and telecoms? Coca-Cola?
Hurting or enjoying the benefits of intellectual property?
I could also state that 100M workers are employed in fields that that most heavily rely on computers or yellow color.
“Since the US has decided to become an idea based economy rather than a manufactured goods based economy, this is long overdue. On the other hand, how would any new patent laws be enforced? China and Russia could care less (not to mention any 3rd World economy). Just pay the small fine and reap huge profits.”
This is very complicated issue without any clear “pro-us” side. Some US companies would benefit from the law (as proposed now) while others would be hurt. This does not affect how things are done outside of US.
Anyway, the idea that great inventions are done in the US by US citizens and then evil foreigners might steal them belongs to the old era. Today, US citizens generate minority of the inventions.
Even in the US, about 25% of new patent applications are filed by H-1 visa holders. (Some freepers would like to get rid of these visa holders, this would even further collapse the US intellectual property position in the world). Also, more than half of world’s patent applications are already filed outside of US. Japan, Korea and Europe are increasing their intellectual property “market share” while US is decreasing. No law can change that. (well, except getting rid of visa holders would eliminate ~25-30% of patents for US companies and further strengthen the position of non-US countries).
What good is patent reform while the Chinese ignore patents?
I agree with that. I thought patent reform was dealt with back in the 1990's. Unfortunately most of the important R&D work and discoveries are being led by H1 Visa holders. By unfortunately, I mean it is sad American Citizens are not leading the way. I understand most important inventions of the 20th Century were made by 1st or 2nd generation immigrants. I still don't see how evil foreign Governments can be deterred from or control manufacturing of cheap knock offs.
A patent is nothing more than a license to hire a lawyer.
“According to the U.S. Chamber of Commerce, the industries that rely most heavily on intellectual property employ nearly 18 million workers.”
KFC, the eleven herbs and spices.. that’s what I figure.
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