Senate Takes Up Patent Reform; Chairman Vows To Fight Amendments
The United States Senate on Tuesday was debating patent reform legislation that would make the first significant reforms to the US patent system in nearly 60 years.
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The United States Senate on Tuesday was debating patent reform legislation that would make the first significant reforms to the US patent system in nearly 60 years.
The US House of Representatives this evening passed HR 1249 – the closest action patent reform has come to being enacted into law in the past 10 years. But there were some changes made to the bill.
Intellectual Property Watch is providing play-by-play action from today’s floor debate of HR 1249, the bill to reform US patent law which is facing a fight. For IP-Watch Subscribers.
US lawmakers this evening agreed to a manager’s amendment to the pending patent reform bill. The legislation could come to the floor of the House of Representatives for a vote as soon as tomorrow (22 June). The Senate version, S. 23, was passed in March.
The first financial marketplace for the trading of patent rights is scheduled to go online this year, and other countries are eyeing the United States’ progress with interest.
American lawmakers aren’t wasting any time getting down to business after President Obama stressed the importance of spurring innovation during his annual State of the Union address this week and cited the need for the United States to regain its competitive edge, particularly when up against countries such as China and India. A slew of related bills are emerging in Congress.
Although attempts to repeal last year’s healthcare reform bill and efforts to get the deficit under control may take up much of the United States Congress’ time this year, lawmakers are expected to tackle a number of intellectual property-related priorities lawmakers, including patent reform, internet neutrality, and enforcement during the new 112th session.
In today’s global economy, there is an increasing convergence of intellectual property and finance. Wall Street is grappling with how to recognise the true value of a firm’s intellectual property. Companies are realising that simply accumulating patents does not necessarily increase their firms’ value, but it is how those patents are used that can attract capital. And drug companies facing massive numbers of upcoming patent expiries, a deflated economy and other market pressures, are looking to diversify their portfolios to stay in the black.
The US Food and Drug Administration heard from myriad pharmaceutical companies, patient groups, and other stakeholders last week as the agency considers how to create an abbreviated pathway to bring more biologic drugs to market.
A network neutrality policy proposed recently by industry giants Google and Verizon not only sparked controversy here in the United States, but the news is making waves internationally as well.
The Obama administration’s release of its national intellectual property strategy yesterday was welcomed by many groups representing businesses and intellectual property holders who said it could serve as an example to other countries.
A technical advisory group is working to drill down on key issues surrounding the US Federal Communications Commission’s proposed internet neutrality principles, but the agency is prepared to make a final decision in the end about how those principles are implemented, a senior FCC official said Thursday.