A massive bill comes to the Senate this week as HR 1249, passed by the House in June 2011. Under this reformed system, patent priority will no longer be set by date of invention. Priority will be set by date of filing. Inventors will have to file early and often to protect their work or see their rights evaporate. Inventors and serial entrepreneurs, can you imagine the expense and uncertainty? Furthermore, inventors may never see the advantage of their increased fees in terms of USPTO efficiency and expertise: nearly $1 billion in USPTO fees have been diverted by Congress away from the USPTO and to other uses over the past two decades.
The advantages will all be to deep pocket companies from new to old tech, from Microsoft to GE to GM, which will sniff out small inventors' new or merely different ideas, work them over and file first. The need for multiple patents at $50K each for one basic invention will mean nothing to the multinationals but failure to the entrepreneurs.
To read the full, original article click on this link: Innovators, This Coming Week's Patent Reform Bill Will Crush American Innovation - Washington DC Business Strategies | Examiner.com
Author:Sigrid Caroline Schroder
