Patents have pushed the U.S. economy forward by encouraging innovation across all industries, from medicine to manufacturing and technology, giving America a competitive edge in today’s global economy.
Presently, America’s intellectual property sustains more than 40 million jobs, accounting for more than half of country’s economic growth. Companies that make up the Partnership for American Innovation (PAI) alone invest more than $40 billion in research and development each year, which has created more than 1.2 million jobs, the organization explains in a video, Patents Fuel the American Dream.
American companies must continue to incentivize and protect inventions with our strong patent system for the U.S. to continue to be a leader in innovation and economic opportunity.
Watch the video:
(Video and top GIF: Courtesy of Partnership for American Innovation)
Carl Horton is Vice President & Chief IP Counsel at GE.