WASHINGTON, Dec. 14, 2017 /PRNewswire/ -- In an open letter the High Tech Inventors Alliance (HTIA) responded to recent statements on the part some commentators that the patent reforms spurred by the U.S. Congress and the U.S. Supreme Court over the last decade supposedly have harmed American innovation.
The facts presented in the Alliance's open letter tell a different story. John Thorne, HTIA General Counsel said, "Congress enacted the America Invents Act (AIA) in late 2011. The AIA's inter partes review (IPR) process, which became effective in 2012, has provided a means for the Patent and Trademarks Office to correct its mistakes, resulting in rising levels of patent quality and a significant boost in innovation. Very clearly, mistakenly issued patents stifle rather than spur new technology creation, a fact this data highlights."
- R&D spending in the United States has risen significantly. The 300 U.S. companies who have invested the most in R&D have increased R&D spends by 44% since 2012.
- Venture capital funding in the U.S has increased dramatically since 2012. In the period from 2012 through 2016, investments went from $32.8 billion to $61 billion, which is an 86% increase.
- Startup activity has accelerated sharply. Overall activity has increased a staggering 194% between 2012 and 2016.
- Gross Domestic Product (GDP) has climbed sharply. From 2012 to 2016 the GDP has grown approximately 9%.
- U.S. patent filings continue to rise. From 2012 to 2016 filings increased 15%, showing that many inventors continue to invest in patenting at record levels.
"This data clearly contradicts the claims made by some that patent reform has harmed innovation. Since the introduction of the IPR review process and the Supreme Courts Alice decision, innovation in the United States is flourishing", Thorne concluded.
The full letter can be read HERE.
The High Tech Inventors Alliance is comprised of eight technology companies: Adobe, Amazon, Cisco, Dell, Google, Intel, Oracle and Salesforce. These companies have over 447,000 employees in the United States, have invested $62.9 billion in research and development in the past year and hold a total of over 115,000 U.S. patents.
SOURCE High Tech Inventors Alliance