SBE Council Issues Statement of Support for Bipartisan Patent Reform Bill

By SBE Council at 28 June, 2023, 3:51 pm

NEWS

For Immediate Release

Washington, D.C. – Today, the Small Business & Entrepreneurship Council (SBE Council) issued a statement of support for the Patent Eligibility Restoration Act, introduced by U.S. Senators Chris Coons (R-DE) Thom Tillis (R-NC).

Raymond J. Keating, chief economist for SBE Council and author of Unleashing Small Business Through IP: The Role of Intellectual Property in Driving Entrepreneurship, Innovations and Investment, said:

“Strong intellectual property rights incentivize innovation, investment and entrepreneurship, which in turn drive economic growth. While global competition is fierce, sound property rights are a key reason why the U.S. leads the world in critical areas of innovation and technology. The legislation introduced by Senators Tillis and Coons would beef up and clarify patent eligibility and protection, and that’s most welcome. Entrepreneurs, small businesses and investors in a wide array of sectors, such as biotechnology, medical diagnostics, software and telecommunications, would benefit, and in turn, so would American consumers and workers.”

SBE Council president & CEO Karen Kerrigan added:

“IP rights and protections are central to a vibrant small business and startup ecosystem, which generates the innovations that improve lives and keep economies competitive. Certainty and clarity on the rules governing patents are important to investors, who provide the capital that is necessary for bringing ideas and innovations to the marketplace to the benefit of consumers, job creation, and the U.S. economy. The Patent Eligibility Restoration Act is a needed and measured bill that strengthens our patent system, which is particularly important for small firms and individual innovators. Certainty and clarity also mean less confusion and wasting of resources that could instead be directed toward productive innovative activity and business growth.”

CONTACT: 

Karen Kerrigan, kkerrigan@sbecouncil.org

Raymond Keating, rkeating@sbecouncil.org

SBE Council is a nonpartisan advocacy, research and education organization dedicated to protecting small business and promoting entrepreneurship. For 28 years, SBE Council has worked on and advanced a range of private sector and public policy initiatives to strengthen the ecosystem for strong startup activity and small business growth.

Visit www.sbecouncil.org for additional information. Twitter: @SBECouncil

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