Innovation Asset Blog

Experts concerned intellectual property reform may not be enough

A report from Reuters found that some intellectual property experts are concerned that pending legislation may not be enough to prevent lawsuits and encourage further innovation.

According to the news provider, the Senate will vote on the bill next week after the House passed the legislation earlier this summer. While the bill would allow the Patent and Trademark Office to establish its own policies and fee structure, the technology industry may not see the relief it desperately needs.

Initially, the technology industry saw the bill as a means to prevent the extensive litigation that prevented innovation. However, earmarks and other language added to the bill have added steps to the process of gaining intellectual property.

"The tech sector wanted patent reform to offer alternatives to litigation. Instead, they have extensions of the patent process itself. That’s fine for other industries, but not for tech," Brian Kahin, of the Computer and Communications Industry Association, told Reuters.

Within the technology industry, the mobility sector is among the fastest growing. However, major companies, such as Google and Apple, find themselves in litigation battles that prevent resources from going toward innovation. The problem has reach such a head that mobile service provider Verizon recently urged President Obama to weigh in on the issue in hopes of dissuading some from pursuing frivolous litigation.

Peter Ackerman

Peter Ackerman

Founder & CEO, Innovation Asset Group, Inc.