In a recent Washington Examiner op-ed, C4IP Board Member and former U.S. Congressman Lamar Smith argues that strengthening America’s patent system can help advance one of the Trump administration’s central economic goals: making life more affordable for American families.
Smith explains that while patent reform may not be the first issue that comes to mind in debates over affordability, strong and reliable patent protections play an important role in driving the innovation that creates jobs, strengthens the economy, and lowers costs over time.
The piece points to the broad economic benefits of intellectual property-intensive industries, which support tens of millions of American jobs and account for a significant share of U.S. economic activity. Additionally, by giving inventors and investors confidence that new ideas can be protected, patents help encourage the risk-taking needed to bring better products, technologies, and services to market.
Fortunately, Smith notes, Congress has bipartisan solutions available. The PREVAIL Act would help curb duplicative patent challenges at the PTAB. The Patent Eligibility Restoration Act would restore clarity to patent eligibility standards. And the RESTORE Patent Rights Act would help ensure that inventors can obtain meaningful relief when their rights are violated.
“The best thing the administration can do to help inventors would be to urge congressional leaders to pass legislation to solve these problems,” Smith writes.
Read the full op-ed here:
https://www.washingtonexaminer.com/op-eds/4625231/trump-needs-affordability-win-patent-reform/