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Posted By Caroline Pennington on June 03, 2021

Cylynt Calls for Focus on IP Protection in Senate Debate

Image-Placeholder-3-2Last week the U.S. Senate progressed legislation aimed to boost the national technology sector when senators voted 68-30 to move the U.S. Innovation and Competition Act of 2021 nearer to becoming law.

Once passed by the Senate, the bill must also pass the House of Representatives to be sent to the White House for Biden to sign into law.

Protection of IP

While industry welcomes the act, which has the potential to deliver sweeping change in technology, there are calls to ensure that the protection of intellectual property and cybersecurity are a fundamental part of the debate.

Investment is yet to be finalized but figures of up to $250 billion have been proposed and Cylynt is leading the call that the debate must not lose sight of how critical it will be to protect that investment, protect intellectual property, and safeguard against cyberattacks.

In the media, Ted Miracco, CEO and co-founder of Cylynt commented: “The FBI reports that intellectual property theft costs U.S. businesses billions of dollars a year. IP theft is not something that needs to be tolerated or accepted as part of doing business. It is a growing and systemic threat to the U.S. economy. The stakes could not be higher when it comes to protecting intellectual property and the debate must be prepared to address this.”

Luke Mauritsen, founder of Montana Instruments Corporation, weighed into the discussion as quantum computing is one of the critical industries the U.S. government has identified and much of the research is being conducted at leading universities in coordination with commercial leaders like Montana Instruments.

Mauritsen explained their need to engage a broad workforce across the university system meant they must ensure that the IP created has adequate protection and concluded: “We support the Senate looking at the mandatory inclusion of proven solutions and process disciplines that will underpin research security throughout the entire U.S. supply chain.”

Read more here.

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