America Invents Act Cost the US Economy Over $1 Trillion
4 Pages Posted: 9 Jun 2015
Date Written: June 8, 2015
The Leahy-Smith America Invents Act (AIA), adopted by the United States government in 2011, created an Inter Partes review (IPR) process that invalidates a large percentage a patents that are challenged with this process. The IPR process has resulted in a 61% decline in the average price per patent in the United States, resulting in an aggregate drop in the value of the US economy of $0.5-1.3 Trillion.
Keywords: AIA, IPR, America Invents Act, Inter Partes review, UPPTO, patents
JEL Classification: O34, O38, O31
Suggested Citation: Suggested Citation