Recession's latest victim: U.S. innovation - Dec. 11, 2009

Patent filings fell in 2009 for the first time in 13 years, worrying Silicon Valley that it is losing its place as the leader in global innovation.

via money.cnn.com

This article hightlights the need for patent reform in the United States. A terrible combination of an antiquated patent system, increased litigation, and the economic downturn has all come together to stifle the ability for American Inginuity to thrive.

The patent system needs reform and the patent office needs proper funding for upgrades and staff. Small Businesses are large alike both need to be able to file legitimate patents and expect to have them granted in a timely manner.

In my opinion some of the problems in the world of patents have to do with those companies out there who are buying up stagnant patents and then throwing spurious lawsuits out to other companies that are making products and making money. "Patent warehouses" whose only revenue stream comes from patent litigation, are in my opinion a bit like parasites sucking money out of companies that are selling products and creating jobs.

Innovation, including patent registration and new inventions, is the lifeblood of the American way. It is our ticket to a better future. Innovation represents being able to do more with less, more efficiency, and a better standard of life. We need to be encouraging companies and individuals to apply for patents and market new innovations.

Comments

[Jacqueline]

I heartily agree Cgleason. The thing is that our tax doarlls funds the basic research at universities, NIH and CDC. Pharma picks up these for a song and cranks out billions in profits from them. Same with our public airways, the FCC leases them for a pittance and the companies (radio, tv, phones) reap vast rewards. Just like the Republicans did for big business in the 1920 s that led to the 1929 crash.

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