Patent Reform a Must for America

In his book “The Age of Turbulence,” Alan Greenspan states that “the most important economic decision U.S. lawmakers and courts will confront in the next quarter century will be to clarify rules involving intellectual property.” This is hardly an overstatement. Patents and copyrights contribute trillions of dollars to the U.S. economy. By some accounts, intellectual property assets comprise one-third of the capitalized value of American companies. The U.S. is a world leader in technology, communications and entertainment partly because of its robust and balanced protection of intellectual property. Yet there are challenges ahead.