Friday, September 16, 2011

President Obama Signs Major Patent Law Change

President Barack Obama signed into law Friday a major overhaul of the U.S. patent system, a measure designed to ease the way for inventors to bring their products to market. "We can't afford to drag our feet any longer," the president said.
Passed in a rare display of congressional bipartisanship, the America Invents Act is the first significant change in patent law since 1952. It has been hailed as a milestone that would spur innovation and create jobs.
The law aims to streamline the patent process and reduce costly legal battles. It was backed by companies including Google and Apple as well as the U.S. Chamber of Commerce. Small-scale inventors are divided on the legislation, with some arguing that it gives an advantage to big corporations.
Obama was joined at the signing ceremony by Senate Judiciary Committee Chairman Patrick Leahy, a Vermont Democrat, and House Judiciary Chairman Lamar Smith, a Texas Republican, the two main sponsors of the legislation.
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