We are at another critical point. The House Judiciary Committee is trying to have the markup on The Innovation Act, H.R.9, Thursday morning (June 11).
They’ve come out with their amended version which is 20 pages longer. As usual, they spring the new version and announce the markup at the last minute. It’s almost as if they were trying to jam it through without any discussion.
Remember how the universities and drug companies were fighting against this bill earlier? They are now carved-out like in the Senate bill – they escape the worst provisions.
There appears to be some kind of limited carve-out for inventors, but it totally misses a key component of American innovation – the secondary market.
Is there some legitimate reason that you shouldn’t be able to sell your patent? What if you are being infringed willfully by large corporations who know you don’t have the finances to sue them? Is there something wrong with your selling your patent to an entity that can successfully defend it? This may be your only realistic option. There are many situations where an investor ends up owning a patent that is being infringed. Why would he ever invest in a new technology if, in the end, he could not defend his property?
This bill is fatal to American innovation, and all the lobbying money is pushing to get it passed. We need to do everything we can to keep the markup from happening. I’d be in DC right now fighting for us if I had any money left (if you want to help, go to the US Inventor donate button).
Please call and email your Representative (find him or her here). Make it known that the Innovation Act, H.R.9, will destroy the secondary market for patents, and in doing so, traditional financing for American innovation. This bill is fatal for inventors and innovation, and will do great harm to America.
Sorry to spring this on you last minute, but I need you to do what you can today, Wednesday. If we can get the markup delayed, we will have more time to gather forces to defeat this bill. Thank you for your help – we can win this battle.
Randy Landreneau, Founder