During Visit To Kodak's High-Tech Inkjet Labs, Schumer Unveils New Legislation To Help Kodak Thrive And Promote R&D In Rochester And Across The Us

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During Visit To Kodak's High-Tech Inkjet Labs, Schumer Unveils New Legislation To Help Kodak Thrive And Promote R&D In Rochester And Across The Us

After touring Kodak's new, state-of-the-art, Inkjet printer research and development center, U.S. Senator Charles E. Schumer announced a new package of bi-partisan legislation aimed at promoting research and development at Kodak, in the Rochester area, and across the United States. Schumer said that the new Inkjet Pilot Maintenance facility will put Kodak at the forefront of this growing market and could be a huge success for the Rochester based company. Schumer's legislation, the Research Competitiveness Act of 2007, would simplify and expand existing tax credits for private companies to help promote research and development. Schumer's second piece of legislation would enhance patent protections for companies like Kodak.

"This center is one of Kodak's and the area's great hopes," said Schumer. "Rochester is known throughout the country as a brain trust for technological developments, home to some of the best minds and research facilities in the world. This facility will again put Rochester on the map and at the forefront of the worldwide Inkjet printer industry. This effort could be a windfall for the area and gives us hope for the road ahead."

Schumer's first piece of legislation would make permanent the exisiting research and development tax credit and overhaul it to better help 21st Century companies. Beginning in 2008, the bill creates a 20 percent credit for qualifying research expenses and grants tax-exempt bond authority for state and local governments to build research tech parks. All across upstate New York, the creations of these tech parks have directly contributed to the resurgence of high tech industry. In addition, the bill provides access to cheap capital for small, research intensive businesses through a tax break similar to the "new markets" tax break. Right now, these smaller businesses do not qualify for the exisiting tax break.

Schumer said the bill will enhance R&D investment in the United States and help high tech companies continue to innovate and remain competitive in today's global market. With intensifying competition around the world, the bill would provide invaluable incentives for companies to promote R&D, attracting highly-skilled and high paying jobs in the Rochester area and across the country.

The second piece of legislation that Schumer announced he was supporting was a comprehensive plan to overhaul outdated patent regulations that stifle innovation and prevent companies like Kodak from growing efficiently. The bill streamlines the United States patent process with international standards by shifting from a "first-to-invent" system to a "first-to-file" one. This creates a simple, unambiguous and user-friendly system for patent seekers, holders and others by removing the contentiousness about who invented something first.

Specifically, the bill changes the definition of "willful infringement", when someone claims that their patent has been infringed upon by another entity, to ensure that all claims are legitimate and companies, like Kodak, can proceed with new research without the threat of frivolous lawsuits. The bill would also place new restrictions on the courts where patent cases could be filed--an attempt at rooting out "forum shopping" for districts known for favorable judges. The bill also changes how damages are apportioned in patent infringement lawsuits."

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