Connecticut Technology & Intellectual Property

For those who are looking for President Obama to provide some leadership in the innovative spirit of the U.S., check out his recent speech that he made on September 21 at Hudson Valley Community College in Troy, NY.  Some encouraging quotes:

So as we emerge from this current economic crisis, our great challenge will be to ensure that we don’t just drift into the future, accepting less for our children, accepting less for America.  We have to choose instead what past generations have done:  to shape a brighter future through hard work and innovation.  That’s how we’ll not only recover, but that’s how we’ll also build stronger than before:  strong enough to compete in the global economy; strong enough to avoid the cycles of boom and bust that have wreaked so much havoc; strong enough to create and support the jobs of the future in the industries of the future.

My budget finally makes the research and experimentation tax credit permanent.  This is a tax credit that helps companies afford the often high costs of developing new ideas, new technologies, new products — which means new jobs.  And this tax incentive returns two dollars to the economy for every one dollar we spend.  Time and again, I’ve heard from leaders — from Silicon Valley to the Tech Valley — about how important it is.  I’ve also proposed reducing to zero the capital gains tax for investments in small or startup businesses, because small businesses are innovative businesses; they produce 13 times more patents per employee than large companies do. 

Now, these tax incentives will spur entrepreneurship.  But there are other important steps to foster markets that value and promote risk-takers and idea-makers who’ve always been the center of our success.  That’s why it’s essential that we enforce trade laws and work with our trading partners to open up markets abroad; that we reform and strengthen our intellectual property system; that we sustain our advantage as a place that draws and welcomes the brightest minds from all over the world; and that we unlock sources of credit and capital which have been in short supply as a result of the financial crisis.

It remains to be seen if the President can make good on his call to action, but, as has been the theme of President Obama’s administration, there seems to be a good reason to “hope”.

A nice analysisof the speech by a McCain supporter can be found at IPWatchdog.

-Gregg J. Lallier