Konarka Technologies recently highlighted that managing and protecting intellectual property is as big an issue as inventing and creating it in the US.
Dan Williams, vice president of business development and marketing, Konarka told US Chamber Magazine that one major issue is the backlog of 750,000 patents awaiting approval at the US Patent and Trademark Office (USPTO).
“It costs several hundred thousand dollars a year to maintain that technical portfolio and manage and monitor it. For a small company, that’s a lot of investment,” he reportedly said.
Williams said that it is up to companies in the US to be vigilant and have a patent strategy in place, particularly when it comes to disclosing their discovery in a patent application, which can give others a chance to steal the technology.
The report also highlighted that America’s IP-intensive industries employ nearly 18 million workers, account for more than $5 trillion of the US gross domestic product, make up more than half of all US exports, and represent 40% of US economic growth. For its part, the USPTO is trying to reduce paper processing and mailing costs. Last month, it announced the implementation of the e-Office Action programme following a successful pilot project. Under the programme, patent applicants receive an e-mail notification of office communications instead of paper mailings.
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