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Energy Department Announces Patent Reform to Boost Start-ups

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Energy Secretary Steven Chu, Photo: energy.gov

Energy Department Secretary Steve Chu recently announced his department will dramatically reduce the costs of patents, slashing the price from $15,000  to $1,000.

This is all in an effort by the Obama administration to encourage entrepreneurship and help the start-up process for small businesses. The program, part of President Barack Obama’s Startup America Initiative, promotes job creation in an effort to boost the lagging economy.

Chu and other administration officials are on an eight-city tour to promote job growth and innovation.

“The realization was that some of the small start-ups wouldn’t be able to bear those costs,” Chu said. “We still wanted them to have the intellectual property available because a lot of new jobs are created in small businesses.”

Small businesses are responsible for creating one out of three jobs in the United States.

The program begins  in May, and some 15,000 patents will be made available from May to December.

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1 Comment

  1. “Small businesses are responsible for creating one out of three jobs in the United States”

    Just because they call it “reform” doesn’t mean it is. Patent reform is a fraud on America. This bill will not do what they claim it will. What it will do is help large corporations maintain their monopolies by robbing and killing their small entity and startup competitors (so it will do exactly what they paid for) and with them the jobs they would have created. According to recent studies by the Kauffman Foundation and economists at the U.S. Census Bureau, “startups aren’t everything when it comes to job growth. They’re the only thing.” This bill is a wholesale slaughter of US jobs. Those wishing to help in the fight to defeat this bill should contact us as below.

    Small entities have been given far too little voice on this bill when one considers that they rely far more heavily on the patent system than do large firms who can control their markets by their size alone. The smaller the firm, the more they rely on patents -especially startups and individual inventors. Yet small entities create the lion’s share of new jobs.

    Please see http://truereform.piausa.org/ for a different/opposing view on patent reform.

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