Wild remains bullish on the U.S., however, saying that he thinks too many Americans are unnecessarily pessimistic about the U.S. patent system because America, as a free country with a free economy, has certain advantages that simply cannot be replicated by China, or even Europe for that matter.
The U.S. Supreme Court on Tuesday gave its stamp of approval to a government review process prized by high technology companies as an easy and cheap way to combat “patent trolls” and others that bring patent infringement lawsuits. The justices ruled 7-2 that a type of in-house patent review at the U.S. Patent and Trademark Office does not violate a defendant’s right under the U.S. Constitution to have a case adjudicated by a federal court and jury.
Congress should be working to grow the economy instead of weakening it. And, with the introduction of the STRONGER Patents Act, they might just be doing that. What does it take to grow the economy? In some ways that question can be almost insurmountable, but in others it is just common sense.
The STRONGER Patents Act was designed to “strengthen the United States’ crippled patent system” by restoring patents as property rights, making court standards uniform and giving startups a better chance to protect their property from entities with much greater resources while also stemming abusive demand letters sent in bad faith.
United States President Donald Trump is not the first to complain about intellectual property (IP) theft by Chinese companies but ironically it was US companies’ use of China’s resources that led to the development of its powerhouse of patents.
Start-ups and garage inventors should spend every bit of their energy and capital getting their ideas to the public and pushing the next inventor to compete. Our bill, the STRONGER Patents Act, reforms the PTAB to deliver the original promise of the AIA, giving our inventors a patent system that is truly cheaper, faster, and fairer for everyone.
We're No. 12! We're No. 12! That is not the chant that a proud American might have been cheering at the Olympic Village in Pyeongchang. President Trump isn’t likely to break out this little tidbit of information in his Twitter feed, even though he could justifiably blame it on previous administrations. But, according to a Chamber of Commerce report, that is where the U.S. is now ranked when it comes to protecting intellectual property.
China is outdoing the US in some kinds of AI-related intellectual property, according to a report published in mid-February by US business research firm CB Insights. The number of patents with the words “artificial intelligence” and “deep learning” published in China has grown faster than those published in the US, particularly in 2017, the firm found.
The Chinese patent system has come a long way since the first intellectual property laws were passed in China in 1985. Many would argue that China’s budding patent system has actually surpassed America’s older and more established patent system (which has been around since 1790 when then-President George Washington signed the first U.S. patent) in speed and efficiency and in providing strong patent protection to innovative companies and emerging startups as well as to individual inventors.
At issue is a new procedure, established by the 2011 America Invents Act (AIA). It provides an mechanism for the Patent Office to double check its work and weed out its mistakes, revoking patents that never should never have been granted. A few critics claim that, because of this procedure, innovation in the United States is on the wane. The data shows just the opposite.