America Invents Act Update

The U.S. Senate has passed it’s version of S.23, the “America Invents Act” in March and the House is expected to present its rendition, H.R. 1249, to the floor in June.
The new reform measures are expected to help individual inventors become more competitive and level the playing field with large corporations.  The changes are considered by many in the intellectual property field to be essential for economic recovery.
Major reformation of the U.S. Patent and Trademark system has been a topic of interest for inventors for almost 10 years now (and 5 Congressional cycles).  The current timeline and costs of obtaining a patent from the U.S. Patent and Trademark Office hinders many inventors from pursuing their invention ideas, even with the discounts in place for small entities.
The new bill will give the Office direct control and access to it’s finances, allowing it to adjust pricing as it sees fit and give inventors and small businesses the leverage they need to remain competitive.  It will also give the Patent Office means to mandate decisions on issuance disputes, streamlining the patent appeal processes and providing patentees with a more efficient and enhanced organization.