Posts Tagged: "manufacturing"

Small businesses are the backbone of the nation’s economy and those that are most likely to engage in job creation. Unfortunately, the small businesses surveyed tell a tale of little or no job creation over the next 1 to 3 years, and in fact suggest there will be more layoffs coming. The respondents see too much uncertainty in Washington, DC, too many regulations and a number of other matters (i.e., the deficit, debt, health care and taxes) as significant impediments to job creation. This on the heels of a disappointing jobs report for June 2010, downward revisions of the number of jobs created in April and May, and unemployment rising to 9.2%, this Chamber survey only piles on the continuing terrible news for the economy. With Congress bickering over the obvious — namely that we simply cannot spend money we don’t have and need to start spending less than we bring in to cut the deficit — it doesn’t seem there is likely to be any good news on the horizon.

The magnitude of the problems facing our economy cannot be overstated. Neither can it be overstated that a coherent national innovation policy is the answer to what ails the U.S. economy. As Hank explains in the Introduction, “for the first time in our history, the connection between technological innovation and job creation has broken down. And for the first time also, the wealth created by innovation is going mostly just to a handful of founders and venture capitalists rather than to many thousands of employees, not to mention the community at large.” Through mismanagement and misapplication of tax, immigration and patent policies our leaders in Washington, D.C. have done us no favors. Speaking at the reception last night Nothhaft explained: “We live in the greatest country in the world and we seem bent on tying our arms behind our backs.” That has to change.

It doesn’t roll off the tongue quite like the famous Shakespearean line — “to be or not to be: that is the question” — the opening line of Hamlet’s soliloquy in Act 3, Scene 1, but the question that some inventors will ask themselves is whether they should seek out licensing opportunities or follow the path of manufacturing and selling.  Truthfully, many inventors probably don’t ask this question and instead jump past this fundamental question and straight for the licensing revenue, but is that the best thing in the long run?  Licensing takes a lot of work out of the monetization equation and minimizes risk, but foregoing manufacturing and pursuing licensing can significantly cut down on profit realized by the owner of the invention rights.

Staffers worked with us to coordinate the interview with Congressman Chaffetz, which took place earlier today. I was told I would have 15 minutes with the Congressman, and graciously he allowed the interview to go a little long. We talked about the President’s States of the Union address, patent reform, the USPTO budget, innovation generally, manufacturing, job creation, China and more. I think many will find what Congressman Chaffetz has to say quite interesting and very encouraging. I myself found him to be well informed and refreshingly candid.

Many people assume that there’s no way American manufacturers can compete with cheap Chinese labor. It’s just basic economics, right? Wrong. It’s the U.S. government’s myopic policy, not China’s lower payroll costs, that make our nation uncompetitive in the all-important solar and other high-tech manufacturing sectors. With manufacturing friendly tax policies and a permanent 20 percent R&D tax credit equal to what other nations offer China’s advantage drops to 1 to 2 percent, and that the U.S. can compete with.

If you are unaware that Massachusetts Republican Scott Brown was victorious last night via special election to fill the remaining term of the Senate seat held by the late Senator Ted Kennedy you must be living under a rock.  Over the last month or so Brown has surged in the polls and took Massachusetts and the nation by storm, claiming…

PRESS RELEASE: Washington, D.C, March 3 – The Manufacturing Alliance on Patent Policy (MAPP) released the following statement regarding introduction of legislation to modify the U.S. patent system. Chief among our concerns is the language that reduces penalties on those who take the intellectual property of others. While we appreciate the sponsors’ willingness to hear our concerns, the legislation as…

It is almost impossible to believe that given all the turmoil  our economy is facing, with trillions of dollars being spent by the US government as if the US dollar were some kind of Monopoly money, but patent reform legislation is likely to be introduced this week, perhaps as early as Monday, March 2, 2008.  Why is Congress thinking about…

Earlier today more than 130 US manufacturing companies sent a joint letter to President Obama detailing their serious concerns about the economic impact that enactment of patent reform legislation would have on the US economy should such reform look anything like what was proposed during the 110th Congress last year. The letter sent to President Obama coordinated by the Manufacturing Alliance on Patent…