Innovation Protection Act

[AI summary unavailable — showing source text] Innovation Protection Act Establishes in the Treasury the United States Patent and Trademark Office Public Enterprise Fund (Public Enterprise Fund) to be used as a revolving fund by the Director of the U.S. Patent and Trademark Office (USPTO) without fiscal year limitation. Requires to be credited to or deposited in the Public Enterprise Fund: (1) appropriations for defraying the costs of USPTO activities; (2) fees collected under federal patent and trademark laws; and (3) any unobligated balances remaining in the Patent and Trademark Office Appropriation Account and in the Patent and Trademark Fee Reserve Fund. (Thus, replaces the Patent and Trademark Office Appropriation Account, eliminates the Patent and Trademark Fee Reserve Fund, and provides a source of permanent funding for the USPTO.) Requires fees collected by the Director to remain available to the Director until expended. Makes the Public Enterprise Fund available to cover: (1) ordinary and reasonable administrative, operating, and other expenses incurred by the Director for the continued operation of USPTO services, programs, activities, and duties relating to patents and trademarks; and (2) expenses incurred pursuant t…