Plan’s restrictions on validation review kills the economy – studies.
Josh Landau 12-4-2023, patent counsel at the Computer & Communications Industry Association, J.D. from Georgetown University Law Center and his B.S.E.E. from the University of Michigan. Patent Progress, “Study Confirms That PREVAIL Act, Patent Office ANPRM Proposals Will Hurt the Economy,” https://www.patentprogress.org/2023/12/study-confirms-that-prevail-act-patent-office-anprm-proposals-will-hurt-the-economy/#author_box, //ff
A study from the Perryman Group – an economic and financial analysis firm based in Waco, Texas – confirmed that proposals contained in both the United States Patent and Trademark Office’s (USPTO) Advanced Notice for Proposed Rulemaking (ANPRM) and the PREVAIL Act would impose significant costs on the U.S. economy by making it more difficult to challenge invalid patents at the USPTO.
According to the analysis, if the proposals go into effect, U.S. business activity will decrease by approximately -$482.1 million in gross product, -$230.4 million in personal income, and -2,000 job-years of employment over the next decade. What’s more, the manufacturing sector would be the hardest hit, with a decrease of -$230.1 million in gross product.
The Perryman study also points out that restrictions on USPTO review will increase costs for the federal government by reducing tax receipts and raising procurement expenses. The decline in U.S. business activity will reduce tax receipts by -$96.4 million over the next 10 years while simultaneously increasing procurement costs by $106.4 million. This means that, in total, the new proposals represent a $202.9 million cost increase for the federal government.