publication date: Aug 12, 2011
|
author/source: American Chemical Society
The American Chemical
Society (ACS) said Thursday that for a nation facing a looming deficit and
difficult cuts to entitlements, passing H.R. 1249 and streamlining America's
patent application process is one of the single-most productive steps Congress
can take to improve the economy.
"Congress faces many
difficult choices as they grapple with the deficit and balance entitlements and
cuts, but unleashing our nation's ability to innovate from stifling patent
policies has no downside - the only result is new economic opportunity," said
ACS President Nancy B. Jackson, Ph.D. "Currently more than 1.2 million patent
applications are backlogged. That's a lot of American ingenuity waiting to hit
the streets!"
H.R. 1249, the America
Invests Act, would establish essential changes in how patent applications are
reviewed and awarded and would keep patent application fees with the U.S.
Patent and Trademark Office (PTO). H.R. 1249 is expected to come up this week
in the House and is the counterpart to the Senate's S.23 America Invents Act
that passed by a vote of 95-5 on March 8 of this year.
In recent decades,
patent fees have been diverted from the PTO and rolled into the federal budget
to pay for other shortfalls, thus preventing the PTO from hiring enough
examiners to review patent applications in a timely manner. On average, it
takes three years for a patent application to be reviewed.
"And by then, someone
else may have captured the business opportunity and the jobs - often someone
overseas," said Jackson. "We must end fee diversion; we can no longer afford
hold back our job creators. Patent reform is the fuel for innovation and
rebuilding America. ACS applauds the bipartisan support in both the House and
Senate for changing our patent laws and ensuring we remain competitive in the
global arena of discovery and economic opportunity."
For more information on
ACS's patent policy
click here
To view ACS's "A
Competitive U.S. Business Climate: The Role of Chemistry"
click here
The American Chemical
Society is a nonprofit organization chartered by the U.S. Congress. With
more than 163,000 members, ACS is the world's largest scientific society and a
global leader in providing access to chemistry-related research through its
multiple databases, peer-reviewed journals, and scientific
conferences. Its main offices are in Washington, D.C., and Columbus, Ohio.
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