The Economist recently published an interesting opinion article on the impact of innovation on the economy — specifically the negative impact of patent backlogs on business (particularly small entrepreneurial business).
INNOVATION and jobs have become a modern version of motherhood and apple pie in Washington, DC. Everyone in America’s capital wants lots more of both, or so they say. So how come Congress and the White House have decided not merely to underfund a crucial cog in American’s innovation machine but actually to take away revenue it earns? And that at a time when that cog, the Patent and Trademark Office, is already struggling to keep up with the growing demands upon it? The recent budget deal for fiscal 2011 (the year to September 30th) allows the Patent Office to spend only $2.1 billion. That is less than it expects to collect in fees from applicants—$100m or so will disappear instead into Treasury coffers—and far less than it needs to do its job properly. (more…)
Filed under: Innovation, North America | Tagged: economic development, Innovation, intellectual property, patents, United States of America | Leave a Comment »

GSK malaria vaccine could save millions of lives
The following report published in The Guardian today provides encouraging global health news — GSK’s new vaccine against malaria has been shown to halve the risk of malaria.
Filed under: Commentary on news & events, Innovation, Public health | Tagged: global health, malaria, research-based pharmaceutical industry, vaccine | Leave a Comment »