US braces for patent law overhaul
The Bill, which passed a key Senate vote on Tuesday and is expected to get President Barack Obama's signature, will reverse centuries of US patent policy by awarding patents to inventors who are 'first to file' their invention with the US Patent and Trademark Office.
Currently the 'first to invent' principle reigns, which often spawns costly litigation between duelling inventors.
If passed, the measure would be the first major change to the patent system in about 60 years. For the past decade, efforts to reform an overwhelmed patent system have bogged down and failed, according to National Journal Member.
Under pressure from congressional appropriators, the House partially revoked a portion of the Bill that would have given PTO full control of the fees it collects and prevented Congress from raiding those fees for other programs.
In the short term, the America Invents Act won't reduce the amount of litigation among mobile companies and patent trolls, reports Paid Content.org.
The final version of the law drops earlier provisions that would have reigned in the out-sized jury awards that lead many companies to settle, and it does little to eliminate the proliferation of low-quality patents (the most infamous examples are for a crustless PBJ and a method for swinging on a swing).
These changes are good news, but they will largely only apply to new patents - they will not affect the thousands of dubious patents already out there that are driving many of the current lawsuits.
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