State of Innovation

Patents and Innovation Economics

Real Patent Reform

The present proposal for patent reform, will do nothing to increase innovation, and is built on a foundation of sand.  Pat Choate’s article, Patent Reform is ‘Anything’ But completely debunks the present patent reform proposals.  So what would real patent reform look like?  Here is my list of ten real reforms that will increase innovation and spur economic growth.

1. Double the Funding of the PTO

The absurd length of time and outrageous cost necessary to obtain title (a patent) to one’s invention is a national disgrace.  If it took this amount of time and cost to obtain title to real property, we would assume you were discussing some corrupt third world country.  The major goal for the USPTO should be an average time to a first office action of six months and average pendency of 1.5 years.  Doubling the USPTO’s budget would be a good start.  I suggest the funding be pulled from transportation projects.  This would be a drop in the bucket for the pork laden transportation federal budget.  An aggressively funded patent office results in real innovation and real increases in per capita income. Read more »

May 29, 2009 Posted by dbhalling | -How to, -Law, Patents, Uncategorized | | 5 Comments