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Tuesday, June 21, 2011

postheadericon The America Invents Act is bad for the economy

Trading Technologies (TT) is a Chicago based software company with around 600 employees. We develop software for the financial industry and must continually innovate to stay competitive. We know from real world experience that H.R. 1249 as currently drafted is bad for the economy. 

Like many companies, TT invests millions of dollars every year on R&D. The patent system is what permits us â€" as well as all innovators (including individuals, start-ups, small businesses and large corporations) â€" to protect inventions and make R&D worth the effort and investment.
  
Sadly, the misnamed “America Invents Act” (expected to be considered by the House this Wednesday) will not improve our patent system; rather, it is business as usual in Congress, favoring big banks and other special interests. Contrary to claims of supporters, this bill will stifle innovation, kill jobs, and further backlog the patent office (“PTO”). Opposition to the bill has ! been mounting as people become more educated.

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