President Obama is set to sign the American Invents Act, a major overhaul to U.S. patent law, the greatest change to patent law since 1952 and a "sorely needed boost to the jobs market" (AP). In the meantime, lawsuits targeting major high-tech companies like Apple and Google are being filed ahead of the changes.
The measure would reverse centuries of U.S. patent policy by awarding patents to inventors who are "first to file" their invention with the U.S. Patent and Trademark Office (USPTO) and including a post-filing review process, according to the Wall Street Journal.
The Brookings Institution cites other changes brought about by this law:
...a new proceeding in the U .S. Patent and Trademark Office (PTO) for third-party challenges to the validity of a recently issued patent, an expanded mechanism for a third party to provide information to the PTO that could be used to narrow or eliminate claims in a pending patent application being prosecuted by a commercial rival, and the introduction of a new, broadly applicable patent infringement defense based on prior commercial use.
The Director of the United States Patent and Trademark Office (USPTO), David Kappos, said that, "this bill will give the USPTO the tools it needs to deliver cutting-edge technologies to the marketplace sooner, drive down the backlog of patent applications, and expedite the issuance of high-quality patents - all without adding a dime to the deficit."
Proponents say it will bring the U.S. in line with European and Asian countries which currently award patents on a "first to file" basis. Critics of the new patent law say it favors large businesses over small inventors, because large companies are more able to pay the $5,000 "express" patent application fee and these companies have the resources to deal with increased paperwork and to track patent applications.
More details on the New Patent Law
Sources: Brookings Institution, PatentlyO