Forbes: New Patent Reforms Aim To Fix Unforced Errors by Christine McDaniel
The U.S. patent system is a cornerstone of economic growth and technological advancement, particularly for small businesses, start-ups, and independent inventors. But the system has been weakened over the years due to a series of court decisions and several design flaws in earlier legislation. In a pleasant surprise, legislators might be willing to do something about it during the lame-duck session.
The Senate Judiciary Committee may consider two important patent laws this week: the Promoting and Respecting Economically Vital American Innovation Leadership (PREVAIL) Act and the Patent Eligibility Restoration Act (PERA). Each seeks to bring the patent system back towards its intended role as set forth in the U.S. Constitution—”To promote the Progress of Science and useful Arts, by securing for limited Times to Authors and Inventors the exclusive Right to their respective Writings and Discoveries.”
While execution will be key, reformers so far seem to have the right ideas.