SOURCE: Global Technologies Ltd

April 27, 2010 12:10 ET

Global Technologies' Vision Validated by US Commerce Department's Support of Technology Innovation and Patent Reform

LONDON--(Marketwire - April 27, 2010) -  Global Technologies, Ltd. (PINKSHEETS: GTLL) cites US Commerce Secretary Gary Locke's position regarding government support for technology innovation and patent reform as clear validation of its pioneering Innovation Development & Demonstration Partnership (ID2) Partnership initiative.

Reforming America's patent system will accelerate economic growth and job creation, and expand America's ability to innovate, according to a new report released April 20, 2010 by the U.S. Department of Commerce. The paper, titled "Patent Reform -- Unleashing Innovation, Promoting Economic Growth and Producing High-Paying Jobs," was authored by the Commerce Department's Chief Economist Mark Doms, the United States Patent and Trademark Office's (USPTO's) Chief Economist Stuart Graham and USPTO's Administrator for External Affairs Arti Rai.

Technological innovation is a key driver of the Obama Administration's pro-growth, job-creating agenda. The report suggests there are significant economic benefits to patent-reform legislation that will support that agenda.
Among the key statistics presented in the report are:

  • Technological innovation is linked to three-quarters of the nation's post-WWII growth rate. Two innovation-linked factors -- capital investment and increased efficiency -- represent 2.5 percentage points of the 3.4 percent average annual growth rate achieved since the 1940's.
  • Innovation produces high-paying jobs. Average compensation per employee in innovation-intensive sectors increased 50 percent between 1990 and 2007 -- nearly two and one-half times the national average.
  • Highly innovative firms rely heavily on timely patents to attract venture capital -- 76 percent of startup managers report that venture capital investors consider patents when making funding decisions.
  • Delay in the granting of rights has substantial costs. Recent reports conclude that the U.S. backlog (currently at 750,000 applications) could ultimately cost the U.S. economy billions of dollars annually in "foregone innovation."
  • The fee-setting authority patent reform gives to the USPTO will contribute significantly to the agency's planned 40 percent reduction in patent pendency.
  • The enhanced post-grant review -- the process by which a patent's validity may be challenged through an administrative appeal in front of the USPTO -- offers a cost effective and speedier alternative to litigation. The cost of such proceedings is expected to be 50-100 times less expensive than litigation and could deliver $8 to $15 in consumer benefit for every $1 invested.

The Company's ID2 Partnership program focuses on the acquisition and development of nascent innovations, inventions and Intellectual Property (IP). Acquisition targets of special interest are operations and technology holdings in the sustainable energy, environmental sectors. By acquiring and funding novel early stage research, the Company leverages its technical and financial resources for the benefit of the inventors, stakeholders and the innovation marketplace and simultaneously achieves the highest multiple and ROI.

GTL encourages collaboration with public, private and institutional partners across all phases of the development cycle. The Company accepts submissions from both inventors and joint venture development partners at www.GlobalTechnologiesLtd.com. The Technology Development & Demonstration phase of the Innovative Cycle, which includes Prototype, Demonstration and Market Analysis, is the most critical stage in commercializing innovative technologies, processes and/or products and, therefore requires both engineering and marketing expertise. The Company has assembled experienced cross-functional teams to guide each innovation acquisition, technological adaptation and system integration through the required steps to successful commercialization.

The Company builds revenues and asset value through a model of continuous growth, income from or sale of its portfolio holdings, and technology licensing or distribution agreements. The Company believes its business model will provide stockholders the most advantageous path to long-term equity growth and supply the company with significant operations, equity improvements, and long-term strategic expansion.
The Company will soon announce significant additions to its technology and operational portfolio.

About Global Technologies, Ltd.
GLOBAL TECHNOLOGIES (GTL) is a technology portfolio company that acquires nascent technology and related innovations, inventions and IP assets to enhance their growth and development. The company builds revenues and asset value through a model of continuous growth, income from or sale of its portfolio holdings, and technology licensing or distribution agreements.

GTL invests primarily in innovative and promising clean/renewable energy or bio-tech technologies that have reached the stage in the critical Technology Development & Demonstration phase of the Innovative Cycle, which includes Prototype, Demonstration and Market Analysis.

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