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To encourage economic growth, create new jobs, and foster new industries we must reform our patent system to give inventors the intellectual property protection they need. Private sector innovation relies on the tools provided by the U.S. Government. Inequities in the current system allow for poor patent quality and encourage “gaming” of the legal system in order for some to reap profits while stifling those who wish to create.
Currently, researchers and lawyers at companies like HP spend millions of dollars and countless hours defending legitimate patents against frivolous infringement claims. Patent litigation doubled in the 1990s.
By allowing an inadequate patent system to stand, America is making it more difficult for our creators to create, effectively hindering the greatest resource we have. This is important for HP, but also important for the country. America needs its businesses to continue to lead in order to create economic growth.
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Patent Reform Act |
The Patent Reform Act would update the current patent system for the 21st Century and restore a sense of balance that would not only protect patent holders such as HP, but also create an environment that would spur innovation, help create and sustain good paying jobs and ultimately benefit consumers.
- Innovation increases productivity and competitiveness: Innovation leads to job creation and economic development. Reform the patent system to address disruptions to innovation caused by systemic imbalances in the current system and to improve patent quality.
- HP is not alone – there is broad support for patent reform: A broad and diverse cross-section of U.S. businesses, leading legal scholars, economists and policy makers has recognized the need for patent reform. The wide range of sectors and trade associations pushing for patent reform includes the financial services, technology, energy, chemical, manufacturing and media industries.
- The case for reform: The current system hinders companies' ability to adequately protect their investment in innovation. Responding to baseless claims of patent infringement diverts HP engineers from productive breakthroughs in R&D by forcing them to spend a considerable amount of time looking backwards, researching old product features and working with company lawyers.
- The last major change to the U.S. patent system occurred in the 1950’s, long before the advances of technology and the knowledge-based economy.
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Additional information |
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