Forbes: The US Needs A New, Pro-Patent, Pro-Growth Innovation Policy by Alden Abbott
The United States has the world’s largest and most innovative economy, and our patent law framework has played a major role in this success story. At the beginning of the 21st century, the U.S. maintained the strongest system for patent protection. It was the envy of the world, but soon thereafter, it came under attack from problematic judicial and executive branch actions.
The weakening of American patents has coincided with growing international challenges to U.S. technological leadership, particularly from China. This presidential administration or the next should reverse course and, in tandem with Congress, reinstitute a strong patent-policy framework to promote vibrant, innovation-driven American economic growth.
Before corrections can be made, however, it’s important to understand the slow degradation of the patent system and the consequences. In the coming days, I’ll outline three different sets of challenges and a path to reform.