Why is the United States patent system important? This question has a number of possible answers, and it is a question that we at Save The Inventor have been actively trying to address. Recently the Intellectual Property Owners Association posed this same inquiry to our nation’s youth by asking them to create a video showcasing their understanding of the importance of the patent system.

As the summer comes to a close, the effort to push for educated and thoughtful patent reform begins to pick up once again. This week’s highlights include articles covering patent rights and grants, as well as a look into intellectual property and its effect on economic growth.

A strong patent system is the backbone of American competitiveness in the global economy. The U.S.’s intellectual property portfolio is estimated to be worth approximately $5.5 trillion, and royalties and license fees account for a trade surplus of around $80 billion.