The USPTO met a major milestone by reducing the patent application backlog to below 800,000 – helping inventors and businesses secure the intellectual property protections they need to support the economy. Reducing the inventory and shortening patent pendency positively impacts the economy. According to a recent study from the USPTO's Office of the Chief Economist, a one-week patent pendency reduction could increase a U.S. company's financial value on average $35,000. In July, the agency set out