""That is not a thing the Patent Office is going to do, is try to say: 'This patent is worth X.' How in the world could we do that? How in the world could anyone reasonably do that?'" - Howard Lutnick During a Subcommittee hearing of the Senate Appropriations Committee today, Secretary of Commerce Howard Lutnick confirmed to Senator Chris Coons (D-DE) that he does not plan to implement his proposal to charge patent holders a percentage their patents' value."
"During today's hearing, Coons first said he has so far been "impressed with Director Squires's leadership" of the U.S. Patent and Trademark Office (USPTO) and urged Lutnick to support the pending Patent Eligibility Restoration Act of 2025 (PREVAIL Act). However, he expressed concern "with reports that you're considering a value-based patent tax that would charge inventors different fees based on the PTO's valuation," a proposal Coons noted almost all of the IP community has been critical of."
A previously reported proposal to charge a 1%–5% value-based patent "tax" on granted U.S. patents will not be implemented. Secretary of Commerce Howard Lutnick stated that the Patent Office will not attempt to assign monetary values to patents for taxation. The proposal drew sharp criticism from IP advocates and a coalition of conservative organizations, who warned of harmful effects. Senator Chris Coons praised USPTO leadership, urged support for the PREVAIL Act, and raised concerns that valuing patents is complex and could impose a crushing tax on innovation.
Read at IPWatchdog.com | Patents & Intellectual Property Law
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