Invention-Con 2024, held on August 16-17, 2024, at USPTO headquarters in Alexandria, Virginia, highlighted the critical importance of the patent system for innovation and economic growth. Christie Thoene, Qualcomm's VP, emphasized that patents, copyrights, and trademarks account for 40% of the U.S. economy, suggesting that increasing patenting among women and minorities could potentially add a trillion dollars to GDP [b6af8cf8].
During the conference, James Howard shared success stories to encourage inventors to make informed decisions and build confidence in their innovations. Dawn N. Myers addressed the challenges of securing funding for startups, particularly for women and minorities, highlighting the need for greater support in these areas. Alan Guyan stressed the importance of aligning startup goals with investor interests, while Matt Nuccio warned against overdesigning ideas and underscored the necessity of legal protection for inventions [b6af8cf8].
Raquel Graham discussed the complexities of patent law and the value of trademark protection, reinforcing the idea that understanding these legal frameworks is essential for entrepreneurs. Additionally, Jerry Ma and Marianne Bekker explored the practical applications of artificial intelligence for entrepreneurs, showcasing how technology can enhance innovation and business strategies [b6af8cf8].
In tandem with these discussions, significant legislative developments in 2024 have aimed to bolster trademark protections and combat counterfeiting. On July 8, 2024, the Senate Committee on the Judiciary designated July as 'National Anti-Counterfeiting and Consumer Education and Awareness Month,' reflecting a commitment to addressing counterfeit products that harm consumers and businesses [f0c27228].
The SHOP SAFE Act, introduced on June 11, 2024, by Congressman Darrell Issa, seeks to amend the Trademark Act of 1946 by establishing contributory liability for e-commerce platforms, aiming to hold them accountable for the sale of counterfeit goods [f0c27228]. Additionally, House Report 118-784 on the Protecting American Industry and Labor from International Trade Crimes Act of 2024, published on November 29, 2024, recommends creating a task force within the DOJ to prosecute international trade crimes [f0c27228].
Resolution 736 highlights the economic impact of counterfeiting, which costs U.S. businesses over $275 billion annually. Furthermore, the No Stolen Trademarks Honored in America Act of 2023, presented to President Biden on November 21, 2024, aims to ban the enforcement of trademarks confiscated by Cuba [f0c27228].
As the landscape of intellectual property continues to evolve, events like Invention-Con 2024 serve as vital platforms for inventors to gain insights and support, reinforcing the importance of a robust patent system in driving economic growth and innovation. The ongoing legislative efforts reflect a broader commitment to protecting intellectual property rights and fostering a safer marketplace for consumers and businesses alike [b6af8cf8].