On August 14, 2024, the Licensing Executives (USA & Canada), Inc. provided the following comment to Congress in their consideration of the RESTORE Patent Rights Act of 2024.
LES USA/Canada Supports Exclusive Rights for Inventors
The Licensing Executives Society (USA & Canada), Inc. (LES) supports strong and reliable intellectual property rights as crucial to a thriving economy and improved quality of life for all. The U.S. Constitution affords inventors an exclusive right in their discoveries for a limited time. Since our nation’s founding, we have respected innovation, and the valuable work of our nation’s inventors, by granting inventors the legal right to exclude others from practicing their inventions without permission. Recent judicial precedent has weakened that right. As such, we have diminished the incentive to invest time, talent, and treasure in the discovery of new and better products and processes. LES supports legislation that would re-affirm the inventor’s exclusive right by affording an inventor a rebuttable presumption in favor of injunctive relief when it is finally determined that a duly issued patent has been infringed. The recently introduced bipartisan, bicameral Realizing Engineering, Science, and Technology Opportunities by Restoring Exclusive (RESTORE) Patent Rights Act of 2024 is a good example of legislation that would achieve that worthy objective. We encourage all members of Congress to carefully consider such legislation, and its capacity for revitalizing American innovation, and to act accordingly.
For questions, please contact:
Brian O’Shaughnessy
Sr. V.P. for Public Policy
Licensing Executives Society, USA & Canada
