Innovation Asset Blog

USPTO director: Innovation a 'principal driver' of growth

David Kappos, under secretary of commerce for intellectual property and director of the United States Patent and Trademark Office, recently addressed the government's Subcommittee on Intellectual Property, Competition and the Internet.

Kappos presented the office's position on patent reforms that are likely to affect the patent and trademark application processes in a variety of ways.

The patent reform legislation, according to Kappos, is a positive development that will help to encourage innovation in the U.S. According to Kappos, "innovation is a principal driver of our nation's economic growth and job creation."

Intellectual property, according to Kappos, has the potential to be an important tool for business profitability. This, in turn, serves as an incentive for inventors to innovate, which leads to the creation of jobs and the fostering of economic growth.

The proposed reform legislation would see a number of changes to the patent application process, including a "first-inventor-to-file" policy, fee adjustments and changes to the post-grant review proceedings.

In addition to highlighting the importance of intellectual property protection for the economy and praising the proposed reform, Kappos commended politicians for introducing the bill, known as the America Invents Act, as a bipartisan initiative. 

Peter Ackerman

Peter Ackerman

Founder & CEO, Innovation Asset Group, Inc.