Velázquez Measure to Diversify Patent Holders Clears House
House Small Business Committee Ranking Member
Rep. Nydia M. Velázquez (D-NY)
The U.S. House of Representatives has passed H.R. 6758, the SUCCESS Act, which includes language authored by House Small Business Committee Ranking Member Rep. Nydia M. Velázquez (D-NY) aimed at addressing underrepresentation of women and minorities patent holders.
“For an entrepreneur, securing a patent can jumpstart a new business, spur job growth and unlock the doors to success,” said Velázquez. “Unfortunately, for too long, women and minority entrepreneurs have been largely underrepresented among patent holders. I am proud to have authored language in the SUCCESS Act to better involve these individuals into the patent process, which will create greater financial opportunity and foster economic empowerment among women and minorities.”
Velázquez’s measure would direct the Patent and Trademark Office (PTO) and the Small Business Administration to study the underrepresentation of women and minorities among patent holders and recommend legislative solutions for increasing participation of women and minorities in entrepreneurship. Velázquez thanked her fellow New Yorker, Judiciary Committee Ranking Member Jerrold Nadler (D-NY), for helping incorporate Velázquez’s language and moving the broader bill towards passage.
“I thank Ranking Member Nadler for working with me to see my measure included and pushing for passage of the broader SUCCESS Act,” Velázquez added. “I hope to see the Senate pass this bill shortly and send it to the President for his signature.”
“The SUCCESS Act provides an important first step toward narrowing the race and gender gap among U.S. patent holders,” said Nadler. “I am proud to join Rep. Velázquez in supporting this legislation and appreciate all that she has done to bring attention to the lack of diversity among patent holders. I look forward to continuing to work with her, and the other bill sponsors to advance not only this legislation, but also other measures to address the underrepresentation of women, minorities, and veterans within the innovation ecosystem.”
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