Obama Signs First Major Patent Law Change in a Generation
The America Invents Act is the first significant review of patent law since 1952.
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Currently there are approximately 1.2 million pending patents, with more than 700,000 applications that have yet to be reviewed. Combined with the ability to hire more employees, the patent office hopes that the first-to-file system will reduce patent processing time to 12 months.
"Somewhere in that stack of applications could be the next technological breakthrough, the next miracle drug," Obama said. "We should be making it easier and faster to turn new ideas into jobs."
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Kyle A. Richardson
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Kyle A. Richardson is the editorial director of Promo Marketing. He joined the company in 2006 brings more than a decade of publishing, marketing and media experience to the magazine. If you see him, buy him a drink.
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