Patently Absurd; Intellectual Property and the Economy  

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[s.n]

Jenis: Article from Bulletin/Magazine
Dalam koleksi: The Economist (http://search.proquest.com/) vol. 399 no. 8732 (May 2011), page 12-14.
Topik: Patents; Government Agencies; Federal Funding; Problems; Economic Impact; Reforms; Legislation; Federal Budget

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Perpustakaan Pusat (Semanggi) Nomor Panggil: EE29.66 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Congress and the White House have decided not merely to underfund a crucial cog in American's innovation machine but actually to take away revenue it earns. And this comes at a time when that cog, the Patent and Trademark Office, is already struggling to keep up with the growing demands upon it. The recent budget deal for fiscal 2011 (the year to September 30th) allows the Patent Office to spend only $2.1 billion. That is less than it expects to collect in fees from applicants--$100m or so will disappear instead into Treasury coffers--and far less than it needs to do its job properly. America's system of intellectual property has played a crucial role in generating economic growth. . Although you can debate how many jobs are created on average per patent, there is no doubt that, collectively, they are a useful contribution to an economy that is still struggling to grow. Imagine, though, how much bigger that contribution might be had the Patent Office been able to process the applications that it has still not even looked at. There are more than 700,000 of these. On April 26th a scheme to process applications more quickly for an additional fee was put on ice by David Kappos, the head of the Patent Office, who blamed this on its new spending cap.

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