An Innovation Ecosystem Drives the American Economy.
Strong patent protections have been a driving force behind U.S. economic growth and job creation for more than 200 years. They provide a critical incentive for innovation and allow inventors and entrepreneurs to raise the venture capital they need to conduct research and bring their technological and scientific breakthroughs to market.
As the result of a series of patent-weakening Supreme Court decisions, legislative changes and administrative measures in recent decades, the U.S. patent system is no longer considered the global gold standard for intellectual property rights. And while the U.S. has been curtailing patent protections, our foreign competitors, including China, have been moving to strengthen those protections and promote innovation in their countries.
The Innovation Alliance supports legislation and policies that would help put a stop to this decline and ensure that patent rights are protected as a fundamental underpinning of our innovation economy. For example, we support the bipartisan PREVAIL Act, RESTORE Act, and Patent Eligibility Restoration Act (PERA), which have each been introduced in both the Senate and House of Representatives.
- The Promoting and Respecting Economically Vital American Innovation Leadership Act (PREVAIL) (S.1553/H.R.3160) will restore fairness to the USPTO’s Patent Trial and Appeal Board (PTAB) process by protecting smaller innovators from Big Tech predatory infringement.
- The Realizing Engineering, Science, and Technology Opportunities by Restoring Exclusive Patent Rights Act (RESTORE) (S.708/H.R.1574) will ensure injunctive relief is available to inventors when their patent is proved valid and infringed.
- The Patent Eligibility Restoration Act (PERA) (S.1546/H.R.3152) will restore certainty and predictability to patent subject matter eligibility, ensuring the next big breakthroughs in AI, medical diagnostics and other key technologies are invented and developed in the United States, instead of in China or other competitor countries.
Together, these bills will allow our patent system to continue serving as an engine for U.S. economic growth and job creation and help ensure the U.S. maintains its position as the global leader in innovation.