Sweeping U.S. Patent Reform Proposed

digerati · Jun 9, 2005, 11:01 PM

Thursday, Congressman Lamar Smith introduced the Patent Reform Act of 2005 to the floor of the House. The bill modifies how patent owners are identified, how patents are awarded, disclosed, disputed and what damages patent holders are entitled to from infringement.

If the legislation is signed into law it would be the most sweeping reform made to the U.S. Patent and Trademark Office since the 1952 Patent Act.Smith says that the proposed changes would eliminate "legal gamesmanship" that disrupts the operations of high-tech companies and that the changes will improve the overall quality of patents. Smith also believes that an upsurge in innovation will come as a result; although, critics of the bill say that it will have a negative impact on technology start-ups and favor big business.

"This will help individuals and companies obtain seed money for research, commercialize their inventions, grow their businesses, create new jobs, and offer the American public a dazzling array of products and services that make our country the envy of the world," Smith commented.
______________________________
Read More: Beta News

Jun 9, 2005, 11:01 PM	#1
digerati Everyones life has worth Join Date: May 2003 Location: My Yellow Bug Posts: 3,779 Rep Power: 61	Sweeping U.S. Patent Reform Proposed Thursday, Congressman Lamar Smith introduced the Patent Reform Act of 2005 to the floor of the House. The bill modifies how patent owners are identified, how patents are awarded, disclosed, disputed and what damages patent holders are entitled to from infringement. If the legislation is signed into law it would be the most sweeping reform made to the U.S. Patent and Trademark Office since the 1952 Patent Act.Smith says that the proposed changes would eliminate "legal gamesmanship" that disrupts the operations of high-tech companies and that the changes will improve the overall quality of patents. Smith also believes that an upsurge in innovation will come as a result; although, critics of the bill say that it will have a negative impact on technology start-ups and favor big business. "This will help individuals and companies obtain seed money for research, commercialize their inventions, grow their businesses, create new jobs, and offer the American public a dazzling array of products and services that make our country the envy of the world," Smith commented. ______________________________ Read More: Beta News