First, the good news for American innovation: the number of patent applications for U.S. innovators is higher than it’s ever been. Despite the downturn in the economy, Americans are still innovating, and at a clip that leaves our forebears in the dust.Now, the bad news: the backlog at the U.S. Patent and Trademark Office (PTO) is around 1.2 million, according to the latest figures from 2010. The delay for patent approval averages about three years, but can take as long as seven years or more in certain cases.
To read the full, original article click on this link: To Restore Innovation, Reform the Patent System - Gary Shapiro - The Comeback: Innovation Economy - Forbes
Author: Gary Shapiro
