U.S. Commerce Secretary Gary Locke and Under Secretary of Commerce for Intellectual Property and USPTO Director David Kappos hosted a conference call with reporters today to discuss the administration’s support for pending patent reform legislation and why the administration believes patent reform is critical to promoting innovation and creating jobs.
“Passage of this legislation is essential to America's economic competitiveness and our ability to innovate,” Locke said. “As President Obama said recently, we need to out-innovate the rest of the world if we’re going to win the future. An efficiently operating patent system is critical to this goal.”
On Monday, the Senate began consideration of S.23 – now known as The America Invents Act – and the administration released a Statement of Administration Policy expressing support for the proposed legislation.
While the USPTO has made significant strides in reducing its backlog of more than 700,000 unexamined patent applications and the time it takes to process a patent, reforming the patent system is critical to speeding the transformation of an idea into a market-making product that will drive the jobs and industries of the future.