Leading Coalition of Innovative Companies
Supports Senate Patent Bill

S. 515 agreement by Judiciary Committee members will improve patent system and promote new jobs by encouraging investment in research and development

Washington, D.C. -- The chairman of the Coalition for 21st Century Patent Reform, Gary Griswold, released the following statement after Senate Judiciary Committee Chairman Patrick Leahy announced the development of a bipartisan agreement in Committee on S. 515, The Patent Reform Act of 2010.

"The Coalition for 21st Century Patent Reform appreciates the work and effort by Chairman Leahy and Ranking Member Sessions, along with that of Senators Hatch, Kyl, Feinstein, Specter and other Judiciary Committee members, to reach a compromise agreement on patent reform legislation. Our coalition of nearly 50 companies from diverse industry sectors has been actively supporting fair and balanced patent reform for several years. We believe the compromise agreement, coupled with the USPTO being able to retain and use all of its fees, would achieve that goal. S. 515 will improve the patent system for all inventors and innovators and help strengthen our economy and create jobs.

In the coming days and weeks, we will work with the House and Senate Judiciary Committees and other Members of Congress, the Administration and the patent user community, to seek the adoption of this bill by the full Senate and by the House. The compromise agreement improves, clarifies and updates the patent system in a balanced, thoughtful manner. S. 515 will have a major, positive impact on investment in research and development, bringing new products to market and creating new high-wage jobs."

The coalition has nearly 50 members from 18 diverse industry sectors and includes many of the nation's leading manufacturers and researchers. The coalition's steering committee includes 3M, Caterpillar, General Electric, Johnson & Johnson, Eli Lilly and Procter & Gamble. The coalition has members in a variety of industry sectors including: Aerospace and Defense, Chemical, Computers, Diversified Financials, Diversified Technology, Energy, Food Production, Forest & Paper Products, Health Care, Household & Personal Products, Industrial Equipment, Medical Equipment & Devices, Network & Communications, Payroll Services, Pharmaceutical, Biotechnology, Semiconductors & Electronic Components, and Transportation Equipment.

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