ARMONK, N.Y., - 04 Mar 2010: IBM (NYSE: IBM) today endorsed the compromise on U.S. patent reform legislation announced by Senate leaders, saying that the first significant update to the nation's patent laws in more than 50 years will bolster American competitiveness in the global economy and help stimulate innovation.
"The leadership of Senators Leahy, Sessions and others has forged a compromise bill that works for all members of the intellectual property community and represents real progress on patent reform," said Robert Weber, senior vice president, Legal and Regulatory Affairs and General Counsel, IBM. "Modernizing the patent system, as outlined in this bill, will protect inventors and promote innovation."
S. 515 was initially adopted by the Senate Judiciary Committee by a 15-4 bi-partisan vote last April. IBM has long supported patent reform, and sees the substitute bill as striking a careful balance among various users of the U.S. patent system, while updating a system that has not kept pace with the dramatic changes in technology and innovation. IBM believes the time has come for Congress to act, and urges adoption of this legislation that will preserve American innovation leadership and spur economic growth.
As the top U.S. patent recipient each year for the last 17 years, IBM is the largest user of the U.S. Patent Office.
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