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WisBusiness: WARF's Gulbrandsen Worried About Patent Reform Efforts
Gulrandsen Says Current Law Protects 'Little Guy' Over Corporations
UPDATED: 9:53 am CDT August 1,
2007
By Brian Clark
WisBusiness.com
Special To Channel 3000MADISON, Wis. -- The overhaul of the patent system now working its way through Congress would hamper innovation, hurt inventors, crimp small biotech companies and cost the University of Wisconsin, the head of the Wisconsin Alumni Research Foundation (WARF) warned on Tuesday."If this law passes, there will be every incentive for people to infringe on patents and not license," said Carl Gulbrandsen, WARF's managing director, speaking on Tuesday at a Wisconsin Innovation Network luncheon.Current patent law, though flawed, protects "the little guy" over corporations and, he said, provides incentive for opponents to come to agreements rather than go to court.Moreover, it gives investors some assurance that they will get a return on their money, he said. With the changes in store, they may not be willing to take the considerable risk comes with backing life-science start-ups."Only now are people starting to wake up to the major changes coming to how intellectual property is managed," said Gulbrandsen, who is also a veteran patent attorney."Unfortunately, we are losing the battle and we need help," said Carl Gulrandsen, WARF’s managing director.Laura Strong, president of the Madison start-up Quintessence Biosciences, said she fears the reform will make financial backing harder to get."The number one danger is that this will cut the value of our technology, hurt our ability to raise capital and open the door infringement," she said.To continue reading this article, visit WisBusiness.com
WisBusiness.com
Special To Channel 3000MADISON, Wis. -- The overhaul of the patent system now working its way through Congress would hamper innovation, hurt inventors, crimp small biotech companies and cost the University of Wisconsin, the head of the Wisconsin Alumni Research Foundation (WARF) warned on Tuesday."If this law passes, there will be every incentive for people to infringe on patents and not license," said Carl Gulbrandsen, WARF's managing director, speaking on Tuesday at a Wisconsin Innovation Network luncheon.Current patent law, though flawed, protects "the little guy" over corporations and, he said, provides incentive for opponents to come to agreements rather than go to court.Moreover, it gives investors some assurance that they will get a return on their money, he said. With the changes in store, they may not be willing to take the considerable risk comes with backing life-science start-ups."Only now are people starting to wake up to the major changes coming to how intellectual property is managed," said Gulbrandsen, who is also a veteran patent attorney."Unfortunately, we are losing the battle and we need help," said Carl Gulrandsen, WARF’s managing director.Laura Strong, president of the Madison start-up Quintessence Biosciences, said she fears the reform will make financial backing harder to get."The number one danger is that this will cut the value of our technology, hurt our ability to raise capital and open the door infringement," she said.To continue reading this article, visit WisBusiness.com
Copyright 2007 by Channel 3000. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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