This morning, IV executive vice president Loria Yeadon was on hand in Alexandria, VA as President Obama signed the America Invents Act, the landmark patent reform bill passed last week by Congress. Loria joined members of Congress, Acting Secretary of Commerce Rebecca Blank, and USPTO Director David Kappos as the President discussed how this new law will create an environment where invention in America can thrive. “We have always succeeded because we have been the most dynamic, innovative economy in the world. That has to be encouraged,” President Obama said in his remarks to the audience.
The America Invents Act represents the most significant reform to the U.S. patent system since 1952, most notably creating a first-to-file standard and a more efficient patent filing process. Once properly implemented, the America Invents Act will help improve patent quality and lead to further investment in invention.
“We at IV share the President’s belief that innovation in America must be encourage and protected, and we’re proud to be a part of this historic moment,” said Loria. “The America Invents Act will stimulate the market for invention and ensure the ideas of America’s brightest minds are recognized for their value and properly protected by our government.”