Innovation Alliance Statement on USPTO Release of SUCCESS Act Report on Patent Equity
Report Highlights Need to Expand Efforts to Promote Equity in Patenting
WASHINGTON, D.C. – Innovation Alliance Executive Director Brian Pomper today issued the following statement on the U.S. Patent and Trademark Office’s (USPTO) release of a report on promoting equity in patenting, as required under the SUCCESS Act of 2018:
“The Innovation Alliance commends Director Iancu and the USPTO for issuing a thoughtful and comprehensive report on the need for equity in patenting. This report marks an important step in the effort to increase inventing and patenting rates among underrepresented groups – an effort that will help advance U.S. innovation and the broader economy.
“USPTO’s report highlights the need to expand efforts to promote patenting among women, persons of color, veterans and low-income individuals. For example, the report cites USPTO data released earlier this year showing that women comprised only 12% of all inventors named on U.S. patents in 2016. However, the report also emphasizes that there is currently insufficient data on the demographic characteristics of inventors and patent holders, making a strong case for enhanced data collection efforts.
“We know that generating higher rates of patenting or other intellectual property holdings among women, persons of color and other underrepresented groups will improve their access to venture capital and other financing, allowing them to expand research and development and more easily bring their innovations to market. Progress toward gender, racial/ethnic and socioeconomic equity in patenting will also benefit society by driving economic growth and bringing new ideas to the table in the search for solutions to the world’s most pressing problems.
“In addition to Director Iancu and the USPTO, we also want to thank the bipartisan co-sponsors of the SUCCESS Act, including Senators Grassley, Coons, Hatch, Hirono and Feinstein, and Representatives Chabot, Johnson, Goodlatte, Nadler, Comstock, Jeffries, Velazquez, Wagner, Adams, Handel and Cicilline, who spearheaded the legislation’s enactment last year.
“The Innovation Alliance looks forward to continuing to work with the USPTO and Congress on measures to increase patenting rates and innovation among underrepresented individuals.”
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ABOUT THE INNOVATION ALLIANCE
The Innovation Alliance represents innovators, patent owners and stakeholders from a diverse range of industries that believe in the critical importance of maintaining a strong patent system that supports innovative enterprises of all sizes. Innovation Alliance members can be found in large and small communities across the country, helping to fuel the innovation pipeline and drive the 21st century economy. Learn more at www.innovationalliance.net.