Tech Industry relies on IPR.

It is important to remember that the American high tech industry leads the world in virtually every area of competence and produces nearly half of its revenue from export sales to the further benefit of the American economy. To my knowledge, there is no such thing as a high- growth regulated industry. Continued leadership for American companies could be threatened if regulations restrict the freedom of action that the industry has enjoyed to date. Other Issues of Importance: Congress will play a key role on many other issues that will affect the growth of the high tech and biotech sectors and the expansion of our economy. In order to assure that these sectors are financially healthy and have adequate access to capital, I would urge Congress to pursue pro- growth policies in the following areas: -Free trade: open and fair access to foreign markets is critical to the success and growth of these sectors. As just mentioned, the average annual export sales as a percentage of ,revenue for a typical venture-backed company grows from zero to 43 percent in the early years of the company's life. In order to expand these overseas opportunities for growth, our industry strongly supports extending Trade Promotion Authority to President Bush. -Efficient stock markets: secure, flexible and efficient stock markets are essential for high growth, venture-backed companies to grow to the next level after the venture capitalist exits his or her investment in the company. -Effective patent and copyright protection: intellectual property is the lifeblood of venture- backed high tech and biotech firms. Secure protection of IP rights is prerequisite for investment in a start-up. Assuring an efficient and equitable patent and copyright processing system is a priority.