On Tuesday, the Trump administration nominated John Squires, a partner in the New York office of Dilworth Paxon LLP, as director of the United States Patent and Trademark Office (USPTO). Squires boasts expertise in a number of hot-topic technologies, including artificial intelligence, blockchain and fintech/RegTech cybersecurity. He spent nearly a decade in the more traditional financial space, serving as chief intellectual property counsel for Goldman Sachs in the early 2000s. While serving in this role, Squires testified before the Senate Judiciary Committee in support of what would become the America Invents Act, noting that “[p]atent examination quality issues, predatory patent assertions, and litigation abuse have precluded continued progress and efficiencies in bettering the U.S. financial system.”
After his stint at Goldman Sachs, Squires created Fortress IP, a multibillion-dollar patent litigation funding group. Fortress IP supported VLSI in a patent infringement campaign against Intel that resulted in two of the largest jury awards in patent history. This campaign, of course, spanned district court litigation, several inter partes reviews, and resultant appeals.
It is unclear whether Squires’ tenure at the USPTO would be influenced by his pro-reform or pro-plaintiff history. Squires’ recent posts certainly recognize the value that patent assets provide to their owners and to the market at large. Mr. Squires has argued that “Patents and National Security [are] Inextricably Linked” and that patents provide a “great economic force.” With current inter partes review invalidation and institution rates at a (nearly) all-time high, patent owners may have reason to be optimistic about this nomination.
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