Patent Reform Inches Closer to Becoming Law

Patent Reform Inches Closer to Becoming Law

Yesterday, Senate Majority Leader Harry Reid (D-NV) filed for cloture for The Leahy-Smith America Invents Act, H.R. 1249, bringing it one step closer to becoming law.  When the Senate reconvenes in September, patent reform will be at the top of the agenda.

In his comments on the Congressional compromise on the debt ceiling, President Obama included patent reform in the list of action needed to stimulate the economy and create jobs: “Through patent reform, we can cut the red tape that stops too many inventors and entrepreneurs from quickly turning new ideas into thriving businesses — which holds our whole economy back.”

Senate Judiciary Chairman Patrick Leahy (D-VT) also voiced his support for Senate passage of the patent reform bill, stating that, ““Congress is closer than ever to enacting meaningful reforms to give American inventors and innovators the 21st century patent system they need to compete in an evolving global marketplace.  The product of six years of debate, the America Invents Act will help the Patent and Trademark Office address a crippling backlog of patent applications by providing the tools and resources it needs to issue high quality patents more quickly and efficiently.  Indeed, this is a jobs bill when our economy needs it most.”

BIO supported the patent reform bills which passed the Senate and House.  In a statement urging the Senate to pass H.R. 1249, BIO President and CEO Jim Greenwood reiterated our strong support for the legislation, “The Leahy-Smith America Invents Act will strengthen America’s patent system and continue our nation’s global leadership in innovation while driving job growth throughout our economy. The improvements made by the bill will benefit all sectors of the national economy by enhancing patent quality and the efficiency, objectivity, predictability and transparency of the U.S. patent system.”

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