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Gary Locke: Innovation drives the economy. Congress should support it

Thought Leader: Gary Locke
January 25, 2025

This article was written by WWSG Exclusive thought leader Gary Locke

Innovation drives the economy. Congress should support it.

The PREVAIL and PERA acts would provide the clarity and fairness that inventors need to bring their breakthroughs to market.

At the heart of the incentive to innovate is intellectual property protections. Patent rights ensure that inventors reap the rewards of their discoveries — the result of untold hours of toiling away, setbacks, and money. Yet because of court rulings and policies coming out of Washington, the innovation ecosystem is now in danger. Congress needs to step in now to end this threat.

Nationwide, IP-driven industries contribute nearly $8 trillion in gross domestic product and support over 47 million jobs. Firms are able to make investments of time, personnel and money in new and unproven technologies because they have confidence that patents protect their products from copycats. But right now, patent protections are under attack on multiple fronts. One of these threats involves legal loopholes that are making it much easier to challenge patents. Another problem stems from the fact that the Supreme Court has narrowed the range of inventions eligible for patents in a number of key technologies.

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