China is winning the biotech race. Patent reform is how we catch up [Fortune]
Alphabet Inc. - Class C Capital Stock (GOOG)
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Source: Fortune
The report, released by the National Security Commission on Emerging Biotechnology, offers dozens of recommendations, ranging from increasing federal investment and expanding domestic manufacturing to reducing reliance on Chinese suppliers and improving interagency coordination. But one issue receives too little attention. If the United States wants to compete, it must restore trust in the intellectual property rights that enable inventors to turn bold ideas into revolutionary products. Patents make high-risk innovation financially viable. They allow startups to protect their discoveries, attract capital, and grow. Without reliable patent rights, promising research gets shelved — or picked up and advanced abroad. This isn't theoretical. The United States led past waves of innovation — like the explosion of biotech startups after the Bayh- Dole Act of 1980 and the 19th-century surge of invention that brought us the telephone and automobile — precisely because it backed inventors w
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