Using patents to protect intellectual property rights helps incentivize everything from the latest new gadget to the next life-saving medicine. Since patents play a crucial role in sustaining our innovation ecosystem, maintaining a fair and balanced patent system is essential. With the U.S. Senate Judiciary Committee currently considering patent reform legislation, there is growing concern about certain aspects of the legislation.
For example, as former PTO Director David Kappos stated,
“It is in our country's best interest to have a patent system that rises above short-term interests, and creates long-term gains for all sectors of the economy. We must move beyond rhetoric that 'the system is broken and trolls are bringing businesses to a complete halt’ to a discussion of calibrated improvements for what is actually the best patent system our planet has.”
Lilly joined a broad cross sector group comprised of universities, patent lawyers, and a number of private sector firms and trade associations, that are working for a properly balanced bill and have expressed strong reservations about some proposals under consideration. The letter explains, “We are concerned that some of the measures under consideration go far beyond what is necessary or desirable to combat abusive patent litigation, and, in fact, would do serious damage to the patent system.”
The Senate Judiciary Committee continues to work toward an acceptable, balanced compromise. As we seek a path to a healthier future, we need to recognize that patents represent the bedrock of American innovation, and we need policies that protect them.