Make Patent Reform Part of the Recovery Agenda

In the face of the twin crises of public health and economic contraction, bold measures are necessary to stop the spread of COVID-19 and bring about a swift recovery.

Washington must also help revive domestic manufacturing and mitigate the risks posed by a supply chain that can be throttled by Chinese Communist Party edicts. Accomplishing all this requires reforming the U.S. patent system.

The basic idea behind protecting patents is sound. It provides innovators with a way to recoup the upfront costs of investment, and owning a patent is a signal of quality that makes startups attractive to investors.

But, as with any other government program, the implementation of this basic idea is vulnerable to being abused, and that abuse results in harm to business growth and economic development.

Read More: Inside Sources