In its ongoing drive to support the revolution toward emission cutting and low carbon technologies, FinSoul has learned that the U.S. Federal Government is attempting to assist companies to get new green technologies to the market place more expediently, with the recent launch of a new pilot program designed to green tech patent applications on a fast track.
The announcement by the U.S. Commerce Department’s Patent and Trademark Office (USPTO) said that the new initiative could see up to a year shaved off the normal time it would take to get a patent for certain green technologies, such as those related to environmental quality, renewable energy, alternative energy, energy conservation, energy efficiency and greenhouse gas emissions reduction.
FinSoul’s research indicates that currently it takes around 35 to 40 months for the patent office to come to a final decision on patents.
The director of the USPTO was recently quoted as saying in a statement, "Every day an important green tech innovation is hindered from coming to market is another day we harm our planet and another day lost in creating green businesses and green jobs," he went on to add " Applications in this pilot program will see a significant savings in pendency, which will help bring green innovations to market more quickly."
FinSoul understands that the pilot program is due to run for 12 months with the first 3,000 green tech applications in The Green Technology Pilot Program being given special status.
