Silicon Valley Congress Members Try to Save Patent Funding

Three Silicon Valley U.S. Congress reps are trying to exempt the U.S. Patent and Trademark Office from budget sequestration. Their proposed bill would unlock $150 million worth of fees and allow progress to continue on opening new patent offices, including one in Silicon Valley. While growth in patent applications, patent stockpiling and especially patent lawsuits has made many techies wary of the space, the lawmakers are calling this the Patents And Trademarks Encourage New Technology (PATENT) Jobs Act and saying speedy patent approvals promote economic growth.