IPWatchdog: Patents as property rights: What will it take to restore sanity to the narrative surrounding US patents?, by Steve Brachmann & Gene Quinn
This post originally appeared in IPWatchdog on May 10, 2017.
On Monday, May 8th, the U.S. chapter of the International IP Commercialization Council (IIPCC) held an event entitled Promoting Innovation, Investment and Job Growth by Fixing America’s Patent System. The event, held in the basement of the U.S. Capitol, featured many speakers and panelists who discussed various issues with the current state of the U.S. patent system and how those issues were reducing the nation’s overall investment into research & development (R&D) and overall innovation.
Although many of the industry insiders at the event held similar opinions on the current state of the U.S. patent system, bringing their message to a mainstream audience has been difficult. Much of this has to do with the “patent troll” narrative that has been forwarded by the efficient infringement lobby. As Sen. Dick Durbin (D-IL) pointed out at a recent Senate judiciary hearing on intellectual property as a driver of innovation, “whoever came up with that phrase [patent troll] should get a special bonus” because it has created a massive mischaracterization of patent owners asserting their rights.