On September 21, 2021, Senators Patrick Leahy and Thomas Tillis introduced the Unleashing American Innovators Act of 2021. According to Leahy’s official press release, the proposed bill “requires the Patent Office’s satellite offices to conduct outreach to increase participation in the patent system by women, people of color, military veterans, individual inventors, and other groups that are underrepresented in the system.”
Many software and product companies, whether through licensing or commercialization of intellectual property products and services, are being built predominantly upon their intellectual property. Moreover, intellectual property plays a fundamental role in companies’ investment decisions. Intellectual property can be used as collateral to obtain financing, for valuation purposes in an equity offering, and can be the impetus for a merger or acquisition.
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