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We cant ignore international competition. The question for the committee is, if the United States isnt going to adopt some form of intellectual property bonds or patent box, what are we going to do . Are we going to just ignore what is going on in the rest of the world . It hardly seems like a good idea. But the downside and people have noticed this of the patent box or intellectual property boxes that unless theyre carefully crafted, you can have a serious problem of encouraging too much property being included in the patent box, and you get a lot of revenue erosion that way, and its pretty undesirable. The issue really is what are we trying to achieve with the intellectual property box and patent something to the answer should be we want to encourage activities we would otherwise lose, and if we find ourselves in that situation, then we should try to figure out a way to craft one of these things. The rest of the world is doing and it we ignore them at our peril. I think i have a diff

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