Innovation Asset Blog

Funding remains an issue in intellectual property reform

A report from detailed the ongoing sticking point of fee collection in the drive toward reform of federal intellectual property standards.

Both the House and Senate recently ratified different versions of the America Invents Act. Currently they're working to assemble a single bill. However, whether or not the U.S. Patent and Trademark Office can keep all of the money from fees collected has prevented any substantial progress on the bill.

The news provider reports that allowing the PTO to keep the money it collects was a primary goal of patent reform in its early stages. The money collected from the fees is crucial to allow the organization to process the more than 700,000 application backlog it has accrued in recent years.

"This bureaucratic backlog could literally be preventing the next iPod, artificial heart or other great innovation from being produced," House Majority Leader Eric Cantor, a Virginia Republican, told

Additionally, private business has expressed its frustration with the hold up. The news provider notes that the Innovation Alliance has publicly withdrawn its support for the House patent reform bill due to the delay. 

Peter Ackerman

Peter Ackerman

Founder & CEO, Innovation Asset Group, Inc.