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Modern Minnesota was built on innovation, from refrigerated trucks and Post-it notes to Spam — the tasty kind, not the kind threatening to clog your email. For your inbox problem, you’ll want to check out the tech from Securence, a leading spam-filtering and cybersecurity company based in Minnetonka.
When it comes to discoveries and inventions, Minnesota ranks among the Top 10 American states — with more than six patents for every 10,000 residents. It is also home to 17 Fortune 500 companies, the fourth most in the nation by population.
At the heart of the incentive to innovate is intellectual property protections. Patent rights ensure that inventors reap the rewards of their discoveries — the result of untold hours of toiling away, setbacks and money. Yet because of court rulings and policies coming out of Washington, the innovation ecosystem that has contributed so much to the prosperity of this great state is now in danger. Congress needs to step in now to end this threat.
The North Star State ranks in the Top 10 states for patent activity across 17 sectors. Its status as an innovation hub spans many industries — from Medical Alley, the world’s leading health technology cluster, to industry giants like IBM and 3M, whose product lines and R&D support great jobs in and out of Minnesota. Nationwide, IP-driven industries contribute nearly $8 trillion in gross domestic product and support more than 47 million jobs.
Firms are able to make investments of time, personnel and money in new and unproven technologies because they have confidence that patents protect their products from copycats. But right now, patent protections are under attack on multiple fronts. One of these threats involves legal loopholes that are making it much easier to challenge patents. Another problem stems from the fact that the Supreme Court has narrowed the range of inventions eligible for patents in a number of key technologies.
In 2011, Congress enacted a law that created a new tribunal at the U.S. Patent and Trademark Office to streamline patent challenges. The Patent Trial and Appeal Board was intended to provide a more efficient alternative to the federal court system for patent owners and patent challengers to resolve their disputes.