Entrepreneurs are eager to understand the implications of the America Invents Act, which was signed into law by President Obama on September 16, 2011. The new rules substantially change America’s patent system, but many provisions will not take effect for a year or more. The Act, which achieved bipartisan support in Congress, was signed into law with broad language and a stipulation that the U.S. Patent and Trademark Office (USPTO) create rules to fill in the gaps.
Although the specific details of the reforms to our nation’s patent laws are not yet set in stone (the USPTO is expected to publish them by the beginning of the year), the American Invents Act provides increased certainty around patent awards and solves for a portion of the costly delays caused by an inefficient patent process. Over the past decade patent applications have nearly tripled and, currently, it takes an average of three years to attain a patent because of a backlog of more than 750,000 applications. Policymakers hope this legislation will improve the system, helping innovators bring their inventions to market sooner.
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Author:Leah Yomtovian
