ALEXANDRIA, Va. (AP) — President Barack Obama has signed into law an overhaul of the nation's patent system. It's the first significant change in the way inventors can bring their products to market in more than two generations.

The America Invents Act, passed in a rare display of congressional bipartisanship, was hailed as a milestone that would spur innovation and create jobs. The last substantial change in patent law occurred in 1952.

The president signed the bill Friday after touring Thomas Jefferson High School for Science and Technology in Alexandria, Va.

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.