Bootstrappers won’t like the recently enacted patent reform law. Called the America Invents Act, it was signed by President Obama on September 16, 2010 and takes effect March 16, 2013. It provides for a “first to file” patent system. Currently a patent is awarded to the first person to invent and reduce the invention to practice, even if they file up to a year after invention. With the new law the patent will be awarded to the first person to file for the patent and the one year grace period will be gone.
Pete Tormey will talk about ‘America Invents Act”’ and answer questions about its implications for bootstrapping technology startups.
Pete Tormey moderates our Walnut Creek breakfasts; he is also a patent attorney at Antero & Tormey LLP. He offered his analysis of the new patent law update, the America Invents Act (HR 1249 112th Congress), concluding that it is an unfavorable development for bootstrappers.