In recent years, the University of California has benefited from an annual infusion of nearly $100 million. That money didn’t come from state coffers or private donors. It came from royalties and fees generated by the 11,500 inventions developed by UC researchers in recent years.
Unfortunately, this income stream is now in jeopardy. Congress will soon consider the misleadingly named “Innovation Act,” which would make it significantly harder for innovators to protect their creations from intellectual property theft. This bill is misguided – and it would have economically disastrous effects. California’s elected officials must oppose this legislation in order to protect our state’s world-leading inventors.
Patents prevent others from copying an inventor’s idea and creating a competing product. In so doing, patents provide inventors with the assurance their hard work can pay off.