000501	07possibilities_wmp_a_16.wma
000000	MICHAEL GORMAN:  Okay and as a follow-up to that, what do you think is actually possible and realistic given the existing limitations of the current system
000009	and the surrounding legal and political environment that we've got going on?
000014	TARANEH MAGHAME:  Well there has been quite a bit of talk on the Hill that a new bill will pass during this Congress.
000023	That may or may not happen.
000025	But what ends up happening really depends on whether or not Congress listens to the views
000035	and the concerns of the various stakeholders such as the Innovation Alliance and other groups who have voiced opinions on various sides of these issues.
000045	But what we hope is that no matter what happens, it will be done deliberately,
000051	it will be done by taking into account the concerns of the various groups and the various companies.
000057	Because we don't think this is, as I started out saying, it's not a tech versus pharma issue.
000104	It's not a big versus small issue.
000106	It's an issue that affects all of us.
000109	It's an issue that affects all patent holders.
000111	The larger companies actually grew up in the system that exists right now and have been successful.
000119	We smaller companies and the new innovators would like the opportunity to do the same.
000125	And if we are not able to do that, it's going to affect the competitiveness of our economy and our country vis-à-vis
000135	for example Asian countries that are very much on the forefront of innovation as well.
000143	And we should be careful not to lose the advantage that we have through the strong patent system that we have developed.
000151	MICHAEL GORMAN:  Derek do you have anything to add?
000154	DEREK MINIHANE:  I think that Taraneh made some very excellent points.
000204	And it is important to note that the employment growth and a lot of the growth within the United States comes from small companies.
000211	And everyone has talked about the economy being an innovation economy and no longer necessarily a manufacturing economy.
000219	And if you take the legs out from under the patent system,
000222	really for reforms that have been stated to be talked about in terms of these quote-unquote patent trolls, that you're really hurting the entire system.
000234	And you're hurting the companies that are up and coming and the ones that are going to provide the future innovation and the future jobs for America.
000241	And I think that people on the Hill need to really think about what the potential consequences are for the reforms that are being proposed
000250	and not just the small one or two situations that are being cited as the basis for the reforms.
000257	But what else is it going to, what other effects is it going to have and what are the unintended consequences that are out there?
000305	And I think those are real and hopefully part of what the Innovation Alliance is doing is getting the message out of what those consequences may be.
000314	MICHAEL GORMAN:  All right, well thank you.
000316	That pretty much finishes up my questions.
000318	Did either one of you have any closing remarks you'd like to make or any other comments?
000323	TARANEH MAGHAME:  No, not me, thank you Michael.
000325	MICHAEL GORMAN:  Okay, all right.
000326	DEREK MINIHANE:  Thank you Michael.
000327	MICHAEL GORMAN:  Well I'd like to thank our listeners for tuning in here on Tech Law Forum.
000331	And I'd like to thank our guests Derek and Taraneh for coming and spending some time with us.
000337	And until the next time, we'll see you later.