President's Strategy for American Innovation

Posted Wednesday, September 30, 2009 by Jim Ruttler.

The Executive Office of the President has released a paper detailing the President’s strategy for American innovation. The essence of the paper is that bubble type growth in dot coms, housing, and finance are not sustainable drivers of economic activity. The President suggests that a returned focus on innovation is necessary for Americans to thrive in an increasingly competitive global economy. In order to achieve the goal of an innovation based economy, the President seeks to promote research, invest in education, improve our physical infrastructure, increase internet access, open capital markets, and implement policies that encourage innovation. Notably, the President believes that the government’s role should be in providing tools to foster innovation. With respect to the U.S. patent system, the paper stated:

“Intellectual property is to the digital age what physical goods were to the industrial age. We must ensure that intellectual property is protected in foreign markets and promote greater cooperation on international standards that allow our technologies to compete everywhere. The Administration is committed to ensuring that the United States Patent and Trademark Office has the resources, authority, and flexibility to administer the patent system effectively and issue high-quality patents on innovative intellectual property, while rejecting claims that do not merit patent protection.”

The paper can be read in its entirety at: http://www.patentlyo.com/sept-20-innovation-whitepaper_final.pdf.

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