Economic growth in the U.S. is driven by innovation and the high-tech sectors. Consequently, ensuring that innovators have secure property rights over their inventions is imperative. Unfortunately, the latest major change to the U.S. patent system, the America Invents Act (AIA) signed into law in September 2011, is failing in this task for several industries including the well-paying life-sciences industry. As EconoSTATS Managing Editor, Wayne Winegarden, argues here, current regulations are skewed in favor of those entities who are challenging the validity of a patent. Maintaining the vibrancy of the life-sciences industry necessitates reforms to eliminate these preferences.

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