Posts Tagged: "ipo"

In a bit of a twist this year, the party nominating the National Inventor of the Year will also be recognized. Most nominations come from patent attorneys, so this is a great way for the IPO to recognize the team behind the inventor, as well as honoring the inventor. The nomination deadline is June 1, 2011, so now is your chance attorneys and agents to nominate those inventors you work with for their innovative contributions. I can’t think of a more worthwhile endeavor for our industry than to recognize remarkable innovators, so I encourage everyone to go through their client rosters and nominate those outstanding inventors who deserve recognition.

According to Pascal Levensohn, Managing Partner of Levensohn Venture Partners, the problem with the US economy is the lack of Initial Public Offerings. He opines that without an increase in IPOs in the United States it will be difficult, if not impossible, to see the economic growth that we want. Without economic growth there will be no job creation, and the sluggish US economy will continue on its anemic path. He suggests that the best way to increase IPOs is to increase venture capital and make it more attractive. He writes that is our leaders really wanted to fix the job problem in America “there would be no higher legislative priority than promoting regulatory and tax reform to stimulate new capital formation and venture capital in the U.S.”

Yesterday Director Kappos deviated a bit from his routine and utilized a powerpoint presentation, which was titled: “The USPTO by the Numbers: Progress and Reform at Our Nation’s Innovation Agency.” While some of the slides tell what appears to be a remarkable turn around story, the real news to come out of Director Kappos’ presentation is that he is challenging the Patent Office to get down to a patent application backlog of 650,000 by the end of fiscal year 2011. To paraphrase Sam Cooke: what a wonderful world it would be!

At lunch Director Kappos explained that the goal for fiscal year 2010, which ended on September 30, 2010, was to get the backlog down to 699,000 — dubbed “project 699.” The Office was not successful, but Kappos says they will get well below 700,000 for fiscal year 2011, perhaps as low as a backlog of 650,000. Kappos’ immediate follow-up: “I say that as Commissioner Stoll starts to choke at me saying that.” Indeed, there are ambitious goals at the USPTO for FY 2011, including a move to unity of invention.

At these types of ceremonies everyone says such nice things, but what Judges Newman, Linn and Lourie said about Judge Michel seemed particularly heartfelt, and they seemed almost saddened to see their friend choose to leave and set out to make a difference advocating rather than opining. The video also included flattering comments from Chief Judge Anthony Joseph Scirica of the Third Circuit, one of Judge Michel’s former clerks and executives of the IPO. It was extremely tasteful, gave an appropriate but not lingering recap of his career and did not linger or go on at an uncomfortable length as these things sometimes can do. Extremely well done and kuddos to the IPO.