NEW The Importance of Patents to Economic Recovery

September 13th, 2010

 Comment:  A recent article by Paul R. Michel, former Chief Judge of the U.S. Court of Appeals for the Federal Circuit, and Henry R. Nothhaft, a chief executive at a technology miniaturization firm, discusses how reduction of backlog at the U.S. Patent & Trademark Office (USPTO) could help create jobs and spur economic recovery.  An interesting quote from the article indicates that “[t]hree-fourths of executives at venture capital-backed startups say patents are vital to getting financing. . .”  The USPTO has initiated several new efforts in recent months to improve patent processing and reduce backlog, including hiring new patent examiners, unveiling a new USPTO “data visualization” dashboard, instituting accelerated examination procedures for “green” technologies, and others.