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Lutnick Rules Out Creating Value-Based Fees For Patents

Lutnick Rules Out Creating Value-Based Fees For Patents

By Editorial Team

Commerce Secretary Howard Lutnick informed a Senate panel on Tuesday that the government has no intentions of introducing new fees for U.S. patents based on their value. Lutnick dismissed the idea, stating that it is not being pursued.

Lutnick’s statement comes amidst speculation that the government was considering implementing a fee structure tied to the value of patents. However, he clarified during the Senate hearing that such a proposal is not on the agenda.

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Lutnick Rules Out Creating Value-Based Fees For Patents

About Shaina Lumish

Corporate Counsel, Renesas Electronics America Inc. | USA

About Shaina Lumish

Sasha Tan is the founder and CEO of Favful, a TripAdvisor-like platform for beauty products. As a serial entrepreneur, she started her first F&B business in Singapore at age 21. She is also well-versed in growing internet businesses as the former founding team member and VP of the online grocery delivery start-up, HappyFresh. Backed by Segnel Ventures, Gobi Partners, and 500 Startups before its official launch, Favful is now present in three countries, works with 20,000 beauty advisors, partners with over 2,000 brands, and covers more than 40,000 products to date.