Report: U.S. Inventors, Economy Threatened by Obama-Era Patent Laws- By OAN Newsroom (oann.com) / March 27 2018
Inventors across the nation are voicing their frustrations over Obama-era patent laws.
The American patent system has seen many changes since the first Patent Act in 1790, but none as threatening as the establishment of the Patent Trial and Appeal Board in 2011.
The Patent Trial and Appeal Board — also known as PTAB — is a three member board put in place to invalidate patents that have already been issued, making an inventor’s private property public.
One inventor rallying outside the U.S. Patent and Trademark Office in August talked about the effects of implementing that new board.
“Just a very short time ago, 80% of venture capital was in the United States,” stated Paul Morinville, Founder – U.S. Inventor. “Now nearly 50% is in China.
He went on to mention that in 2015 China had over a trillion patents filed in comparison to 500,000 U.S. patents.
The board, spearheaded by an ex-Google patent lawyer, was created to prevent so-called “trolls” from monopolizing on a product.
However in reality, inventor’s ideas are being made public for big corporations such as Google to swoop in and cash in on the inventor’s intellectual property.
Inventors are claiming their IP is being unconstitutionally stolen, and eliminating the possibility of creating new jobs.
In 2017, President Trump appointed nationally recognized intellectual property law expert Andrei Iancu as head of the United States Patent and Trademark Office.
Iancu has been highly praised for having a clear understanding of the importance of a strong U.S. patent system for American innovation, job creation, and competitiveness.
Although inventors do not expect PTAB to be fully dismantled, they are hoping Iancu will help enact injunctions for inventors when PTAB seeks to invalidate a patent.
The San Diego Inventor’s Forum Founder Adrian Pelkus spoke about what he hopes Iancu will restore in the patent system.
“Our founding fathers would be proud of us today, they came to this country fighting for the right to have the ability to prosper off their own ideas, not ideas being taken away from a stale, the center rights, one of the very first we ever had,” said Pelkus “We American inventors did have those rights preserved if the state is going to exist as a as a powerful leading nation in innovation, otherwise we won’t.”
The U.S. position in the world patent system dropped from 10-to-12 this year, which is something Iancu says he plans to change as the new USPTO head.
http://www.oann.com/report-u-s-economy-threatened-by-obama-era-patent-laws/
