The U.S. Commerce Department recently released a comprehensive report, entitled “Intellectual Property and the U.S. Economy: 2016 Update” (the “Report”). The Report, which was co-authored by the Economics & Statistics Administration and the United States Patent and Trademark Office, builds upon an earlier 2012 report, finding that “IP-intensive industries continue to be a major, integral and growing part of the U.S. economy.” The Report provides a wealth of quantitative information and analysis on the value of trademarks, copyrights, and patents to the U.S. economy. Key findings include:
The European Court of Justice (ECJ) ruled on Tuesday that the “Safe Harbor” data transfer regulatory framework, which had enabled the otherwise prohibited transmission of European Union residents’ personal information to the U.S., is invalid. The program enabled those who collect data in the European Union to transmit the data to the United States notwithstanding the E.U. determination that the U.S. lacks “adequate” privacy laws. Companies who have relied upon or who were planning to rely upon the Safe Harbor scheme should assess the alternatives that are available and adjust their practices accordingly.
Maximizing the protection and value of intellectual property assets is often the cornerstone of a business's success and even survival. In this blog, Nutter's Intellectual Property attorneys provide news updates and practical tips in patent portfolio development, IP litigation, trademarks, copyrights, trade secrets and licensing.