Licensing Executives Society Applauds Introduction of the STRONGER Patents Act of 2019
Wednesday, July 17, 2019
RESTON, VIRGINIA — July 17, 2019 — The Licensing Executives Society (U.S.A. and Canada), Inc. (LES) commends Senator Coons, Representative Stivers and other co-sponsors for reintroducing the bipartisan STRONGER Patents Act of 2019 in the Senate and the House of Representatives. We commend these members of Congress for their leadership, and for their collaborative spirit in securing co-sponsors from both sides of the aisle in both houses of Congress.
If enacted, this legislation will strengthen the U.S. patent system, reduce abuse, and ameliorate many of the unintended consequences that have crept into the U.S. patent system since the passage of the America Invents Act (AIA), and as a result of a series of unfortunate court decisions. With the STRONGER Patents Act of 2019, Congress will re-affirm innovation and intellectual property rights as pillars of the American economy, and will regain its proper role in setting prudent IP policy.
The American inventor is the embodiment of the pioneering spirit that made the U.S. economy the envy of the world. Our innovative spirit has been fueled by a patent system conferring a valuable property right on inventors – the right to exclude others from exploiting the inventor’s creation. Without that property right, innovation withers, investment declines, and economic activity is diminished. By increasing the strength and durability of U.S. patents, inventors more actively create, the public enjoys those creations, and new industries flourish. LES is committed to working with Congress and the executive branch on initiatives to further improve the U.S. patent system, including industry self-regulation to build consensus and to promote prudent IP practices (LES Standards Initiative, https://www.lesusacanada.org/page/lesstandards). Over the past several years, the U.S. patent system has lost its place as the perennial world leader in value, reliability, and durability. (https://www.theglobalipcenter.com/u-s-chamber-releases-2019-international-ip-index/). We need to reverse that trend. The STRONGER Patents Act of 2019 is an important step in that direction.
About Licensing Executives Society (U.S.A. and Canada), Inc.:
Established in 1965, Licensing Executives Society (U.S.A. and Canada), Inc. (LES) is a professional society of 2,500 members engaged in the creation, commercial development, and orderly transfer of intellectual property rights; protection and management of intellectual capital; and intellectual capital management standards development. LES members are accountants, business leaders, business model innovators, consultants, deal-makers, economists, engineers, IP valuation experts, lawyers, licensing executives, lobbyists, merger and acquisition experts, public policy leaders, scientists, strategic planners, supply chain managers, tax specialists, and technology transfer specialists. These members represent innovation-centered enterprises of all sizes and kinds—such as government laboratories, professional services firms, universities, operating companies, regulatory authorities, licensing specialty firms, and trade associations. LES is a member society of the Licensing Executives Society International, Inc. (LESI), which has 32 sister societies representing 8,000 members in 90 countries.www.lesusacanada.org
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