Today Congressman Bob Goodlatte, Chairman of the Intellectual Property, Competition, and the Internet Subcommittee, issued the following statement upon Senate passage of the America Invents Act, the first major overhaul of our nations patent system in nearly 60 years. This is a major jobs bill.
I applaud the U.S. Senate for passing the America Invents Act, which reforms our nations flawed patent system. This legislation, which is headed to the Presidents desk to be signed into law, will help encourage innovation, get Americans back to work and ultimately help grow our economy.
The last time our patent laws were significantly updated was in 1952. The nature of our economy has changed significantly since then, and it is only right that Congress review our patent laws and amend them as necessary to make sure they still work efficiently to promote progress and innovation as outlined in the U.S. Constitution.
The America Invents Act updates the patent laws so that they will more strongly encourage innovation and progress in our 21st Century economy. It ensures that the Patent and Trademark Office (PTO) issues better quality patents, reins in litigation abuses and gives the PTO the resources it needs to eliminate the almost 1 million backlogged patent applications.
The legislation creates more certainty about patent rights, which will attract investment in these ideas. This will unleash further innovation in America by ensuring that more products and services come to market which will help put Americans back to work.
The America Invents Act is the kind of reform that is necessary to set America back on track toward a prosperous future.