A Bill Inventors Cannot Afford

A bill before Congress threatens to stifle technical innovation coming from small business.  Under current American patent law a crucial grace period exists providing intellectual property protection between the time an invention occurs and the time a patent is filed.  It provides inventors and startups the time to meet with investors and test their inventions.  It allows for inventors to properly evaluate their discoveries and not waste capital on an unworkable process or product. For small firms competing against capital-rich large, established firms, this process is invaluable, and is designed to protect these individuals from being at a severe disadvantage. HR 1249, the America Invents Act, abolishes this grace period, replacing it with one that creates unacceptable risk of loss of patent rights that no small business can afford.  "Inventors won't be able to talk to investors without a patent, and won't be able to file an application without an investor," ...(Read Full Post)