COPYCENSE

“Venture capitalists are turning into legal experts — and against each other — as Congress prepares to rewrite patent legislation.

“Patents are the commercial currency for inventors of the “next big thing” — time and resources spent on research and development are worthless without an exclusive right to exploit an invention. The Patent [Reform] Act of 2005, introduced in the House of Representatives in June, is intended to overhaul 50-year-old legislation that has failed to keep up with fast-moving and comprehensive changes in technology, particularly in the life sciences and information technology sectors.

“Everyone agrees that the system needs improving, but the venture capital industry is split on how this should be done.”

Marietta Cauchi. Patent Reform in Congress Drives Wedge in Industry. PostGazette.com. Jan. 27, 2006.

See also:

Government Accounting Office. USPTO Has Made Progress Hiring Examiners, But Challenges to Retention Remain (GAO-05-720). (.pdf) June 2005.

Florence Olsen. Patent Examiners Battle Stress. FCW.com. July 25, 2005.

CopyCense™: K. Matthew Dames on the intersection of business, law and technology. A business venture of Seso Digital LLC.