The recession is having a negative impact on patent and trademark applications this year. Patent and trademark filings are on a downward trajectory due to “sharp cuts in the budgets of company patent departments,” according to recent U.S. Senate testimony by the Intellectual Property Owners Association (IPO)’s executive director.
The IPO issued a written version of executive director Herbert C. Wamsley’s March 10 testimony before the Senate Judiciary Committee. Wamsley testified on patent reform and Senate Bill 515, The Patent Reform Act of 2009. Wamsley noted that U.S. Patent and Trademark Office (USPTO) officials reported recently that January patent applications “were slightly lower than in January 2008 after years of steady increases” and that the agency’s trademark processing fees dropped by 7.5% during the first five months of fiscal 2009, which started on Oct. 1, compared with fiscal 2008. Full story available at National Law Journal (free registration).