Washington, DC - TechNet, the bipartisan political network of chief executives that promotes the growth of the innovation economy, today applauded both the House and Senate for the introduction of two comprehensive pieces of legislation aimed at strengthening the current U.S. patent system.

"Without action from Congress, America's innovation leadership today remains at risk from an imbalanced patent system," said Lezlee Westine, President and CEO of TechNet. "New products and technologies are the lifeblood of the U.S. economy, but the current patent system oftentimes allows patent litigation opportunists to bog down the system, costing our economy much needed discovery, job growth and cost savings. We applaud the introduction of this important legislation authored by Senators Patrick Leahy (D-Vt.) and Orrin Hatch (R-Utah) and Representatives Howard Berman (D-Calif.) and Lamar Smith (R-Texas), and are proud to lend TechNet's support for this important measure to reform our patent system."

Current law places U.S.-based high-tech companies at a distinct disadvantage as a result of inconsistencies and imbalanced laws that have, for many years, stifled innovation and competitiveness. S. 1145 and H.R. 1908 include provisions that will improve patent quality, establish standards for punitive damages, and encourage research and development spending in the U.S. by limiting those damages in cases within the United States.

The TechNet 2007 Policy Agenda:

• TechNet supports initiatives that will strengthen America's education system, increase the number of Americans attaining degrees in science, technology, engineering and mathematics, and ensure a high-skilled 21st century workforce;
• TechNet supports policies that spur entrepreneurship, employee ownership and small business growth;
• TechNet supports policies to spur green technologies and achieve energy security, economic competitiveness and enhanced protection of the environment. TechNet unveiled its Green Tech policy agenda and a new report last month. More can be found at www.technet.org.
• TechNet supports patent litigation reform efforts to end meritless lawsuits that are a drain on resources and innovation;
• TechNet advocates policies to spur the rapid deployment of broadband networks and consumer access to Internet content and services, and to ensure the continued growth and vitality of the Internet.
• TechNet calls for a strong national investment in research and development through increased federal funding for basic research and enactment of a permanent R&D tax credit;
• TechNet supports international trade policies and agreements that expand markets for U.S. industry.

About TechNet
TechNet is the national, bipartisan network of CEOs that promotes the growth of technology industries and the economy by building long-term relationships between technology leaders and policymakers and by advocating a targeted policy agenda. TechNet members represent more than one million employees in the fields of information technology, biotechnology, green technology, e-commerce and finance. TechNet has offices in Washington, DC, Palo Alto, Sacramento, Seattle, Boston, Austin, and Orange County (California). Web address: www.technet.org.

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