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Small Business Innovation Protection Act of 2017

Floor Speech

Date: Sept. 25, 2018
Location: Washington, DC
Issues: Business and Consumers Legal

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Mr. Speaker, I rise in support of S. 791, the Small Business Innovation Protection Act of 2017.

Innovation is an indispensable element driving economic growth and ensuring America's competitive edge in the global marketplace. In fact, it is so important that studies show the IP industry supports an estimated 30 percent of all jobs and contributes over $6 trillion to U.S. GDP.

While many entrepreneurs understand the benefits of holding IP rights, just as many do not know where to start or how to protect their ideas overseas. The USPTO reported that just 15 percent of small businesses that conduct overseas business understand they need to file for IP protection abroad.

This bill addresses the problem by creating a partnership between the two agencies best suited to take on this mission: the SBA and USPTO.

By leveraging existing IP education and training programs, and utilizing the immense network of SBDCs, small firms will have all the resources to better protect their interests both domestically and internationally.

I applaud Senator Peters and Representative Evans for recognizing the problem and working to advance the interests of our Nation's small businesses.

Mr. Speaker, I urge Members to vote ``yes,'' and I reserve the balance of my time.

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Ms. VELAZQUEZ. Mr. Speaker, in line with the bills we are debating today, this recognizes the special place small firms have in America's economy and provides them a simple tool to protect themselves and their ideas.

Today's bill leverages the current role of the USPTO and SBA to educate and protect innovative entrepreneurs at home and abroad. Doing so is paramount to remaining the global leader in innovation.

Mr. Speaker, I urge Members to support this bill.

Mr. Speaker, I would like to take this opportunity to thank the ranking member--the chairman, Mr. Chabot, and the staff of both the minority and the majority side. It has been a great pleasure working on these nine bills.

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