Strong, consistent IP protections throughout U.S. history enabled the creation of innovative and useful technologies that we use regularly today. From campgrounds to skyscrapers, every aspect of our lives has benefited greatly from IP, as shown by these historical examples from the month of January:
- 1899: On January 10, David Misell received a patent for the first electric flashlight. Today, the global market for flashlights is estimated at over $2 billion. More than 2 billion flashlights are estimated to be sold this year alone.
- 1885: On January 20, LaMarcus Thompson received a patent for a roller coaster. Thompson’s invention, which was built at Coney Island, helped popularize roller coasters and amusement parks across the country; today, the United States is home to over 930 roller coasters. The global market for roller coasters is estimated to be worth nearly $3.5 billion.
- 1861: On January 15, Elisha Otis received a patent for the elevator pulley mechanism, sparking the elevator industry. As of 2019, there were more than 900,000 elevators across the United States, collectively making 18 billion passenger trips per year. Otis Worldwide, the company founded by Otis, remains one of the world’s leading elevator manufacturers, with a market capitalization of approximately $35 billion.