Nanotechnology Now - Press Release: "MDMA Voices Concerns Over The Patent Reform Act of 2007: Bill Will Stifle Innovation and Investment"

Home > Press > MDMA Voices Concerns Over The Patent Reform Act of 2007: Bill Will Stifle Innovation and Investment

Abstract:
The Medical Devices Manufacturers Association (MDMA) joined over 200 other organizations to express concerns with The Patent Reform Act of 2007, S.1145 and H.R. 1908.

MDMA Voices Concerns Over The Patent Reform Act of 2007: Bill Will Stifle Innovation and Investment

Washington, DC | Posted on June 19th, 2007

In a letter sent to key members of the House and Senate Judiciary Committees, a diverse set of stakeholders stated that the Patent Reform Act would "hinder innovation across the diverse sectors of the American economy we represent, including academia, agriculture, alternative energy, biotechnology, chemical, electronics, environmental technology, financial services, information technology, life sciences, nanotechnology, and telecommunications."

The letter highlights three shared areas of concern and recommends striking the Act's most controversial and inequitable proposals:

-- Language pertaining to the apportionment of damages;
-- The creation of an open-ended post-grant review process;
-- The granting of unprecedented rulemaking authority for the Patent and
Trademark Office.

In addition to MDMA, signatories of the letter include the Biotechnology Industry Organization Association, the Innovation Alliance, the NanoBusiness Alliance, CropLife America, the Association of University Technology Managers, the Institute of Electrical and Electronics Engineers, the Small Business Exporters Association of the United States, the Small Business Technology Council, and the Center for Small Business and the Environment. Many state organizations and individual companies ranging from small startups to the Fortune 500 were also represented as signatories.

MDMA's Executive Director, Mark Leahey, stated, "the current bill would severely undermine investment and innovation in every industry, including medical technology." Leahey continued, "the diverse nature of signatories demonstrates the far reaching implications this legislation will have on the patent system and we urge Congress to make the recommended changes to ensure America's innovation economy continues to flourish."

To read the letter, please visit the following link: http://www.medicaldevices.org/public/documents/PatentReformLetterFinal06.19.07_000.pdf

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About Medical Devices Manufacturers Association (MDMA)
The Medical Device Manufacturers Association (MDMA) is a national trade association based in Washington, D.C. that represents independent manufacturers of medical devices, diagnostic products and healthcare information systems.

For more information, please click here

Contacts:
EXECUTIVE DIRECTOR
MARK B. LEAHEY, ESQ.
1350 I Street NW, Suite 540
Washington, DC 20005
(202) 354-7171

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