Former U.S. Ambassador to China, U.S. Secretary of Commerce, and Governor of Washington Gary Locke just published a new opinion piece in the Financial Times explaining how modernizing the patent system is essential for maintaining global competitiveness and advancing society at large in the United States.
Many multi-billion dollar industries exist today because of solid patent laws and IP protection. Yet over time, the US patent system has become outdated and confusing — and as Locke argues, this poses a risk to America’s global standing at the forefront of innovation.
He highlights three bills currently in Congress that would vastly improve patent laws — the Patent Eligibility Restoration Act (PERA), the Promoting and Respecting Economically Vital American Innovation Leadership (PREVAIL) Act, and the RESTORE Patent Rights Act.
Locke implores Congress to pass these crucial reforms immediately, warning, “If other nations succeed in making their patent systems stronger than our own, Americans could lose out on many of these benefits.”
Read the full op-ed here: https://www.ft.com/content/f7fb9ec2-9cc3-4af3-a10e-3c76a0492e13