MASSDEVICE ON CALL — President Barack Obama signed the America Invents Act into law on Friday, shifting the U.S. patent reward system from one based on who first invented a product or concept to a system rewarding whoever first filed for the patent.
The law represents the biggest change to the U.S. patent reform system in decades, and has draw both adulation and ire as innovators argue that the law favors those with deep pockets over small companies or individuals.
The legislation aims to get a handle on a growing tide of patent applications in limbo at the U.S. Patent & Trademark office.
"The driving force behind the whole America Invents act is that there’s a huge patent backlog of approximately 700,000 patent applications that are awaiting examination, and this typically means it takes two or three years before you hear back," Dykeman told us. "The goal is, hopefully, with better funding and more efficiency, the backlog can be decreased, patents can be issued sooner and there will be higher-quality patents."
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