Why patent law should be changed in the US – the patent system is outdated and needs to change
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By Alexei Nikolsky and Michael T. JohnsonPublished November 20, 2017 10:57:25US patent law is a joke, and should be abolished, US President Donald Trump has said.
Trump made the comments in a tweet published on Wednesday.
“It’s time to change the law.
We need to get rid of the stupid patent system and start putting innovation and jobs first,” he wrote.US Patent and Trademark Office (USPTO) chief Mark Geragos, who announced in December the USPTO would be reducing the number of applications filed per year from 4,500 to 1,500, said patent applications were the only way to bring innovation to the United States.”
Patents are the only tool we have for creating a competitive economy and promoting innovation, and they’re also the best way to create jobs,” he said in an interview.”
We have too many patents.
We’re doing it wrong.
We have a patent system that’s broken.
We’ve got to change it.”
The USPTA currently files around 50 million patent applications a year, according to USPTSD data.
That’s nearly double the number filed in 2010, before the recession.
More than 3,000 companies in the United Kingdom filed more than a million patents last year, more than in any other country.
The US patent system has been criticised for allowing companies to obtain a broad range of patent protections, including for devices and processes that may be more useful than the inventions themselves.
The White House said it was “very disappointed” by Trump’s comments.
“The US Patent and Trade Office is an important part of our economy.
We are committed to making sure our patent laws reflect the high standards that our businesses expect,” said a statement from the White House.
The Patent and Trademark Office has already launched a review of the US patent law, and a patent review board has been set up to advise on possible changes to the system.
President Donald Trump said in December that patenting the US economy is “just not possible”.
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By Alexei Nikolsky and Michael T. JohnsonPublished November 20, 2017 10:57:25US patent law is a joke, and should be abolished,…