Former Chief Judge Paul R. Michel’s Supplemental Testimony SEP. 12, 2017
Former Chief Judge Paul R. Michel’s Supplemental Testimony Before the House Judiciary Subcommittee on Courts, Intellectual Property and the Internet
This supplemental testimony on patent policy was delivered to the House Judiciary Committee on September 12, 2017.
The American economy’s success depends heavily on invention. Our “Innovation Economy” requires adequate incentives to invest in innovation because most invention is very risky and very expensive. A well-functioning patent system provides the necessary incentive for securing such investments, both of company revenues and outside funding from venture capitalists, private equity firms, pension funds, commercial banks, and other similar sources. Of course, investors have many alternative investment options, and if risks are lower and rewards higher in other countries or in other endeavors such as entertainment, that is where investment funds will flow. Without the proper incentives provided by the patent system, investment in innovation will falter, and the U.S. economy will suffer.
..
The Committee can rescue the U.S. patent system and reinvigorate the U.S. economy. To do so, the Committee should adopt seven specific action items (listed below as A-G). The first five will substantively and procedurally improve patent law and strengthen patent rights while optimizing PTAB procedures. The last two items relate to the administration of the U.S. Patent and Trademark Office.
A. Amend the AIA to Ensure Fairness and Improve Economic Competitiveness...
B. Amend 35 U.S.C. § 101 to Eliminate the Current Uncertainty in Patent-Eligibility Law...
C. Amend 28 U.S.C. § 1400(b) to Define “Regular and Established Place of Business” for Purposes of Venue in Patent Litigation...
D. End PTO Fee Diversion...
E. Authorize Technical Support Staff for District Judges Participating in the Patent Pilot Program...
F. Require the PTO Director to Be Qualified and Admitted to the Patent Bar...
G. Empower PTO Leadership to Maintain Quality Patent Examiners...
https://innovationalliance.net/patent-news/house-judiciary-committee-former-chief-jude-paul-r-michels-supplemental-testimony-committee/