FOX Business – What Entrepreneurs Need to Know About the America Invents Act and Patent Protection
With the one year anniversary of America Invents Act being signed into law having just passed, many are still wondering what they need to know regarding this new legislation. The biggest change is to the American patent system which is now on a “first to file” basis, not the traditional “first to invent” basis. With many of these changes, entrepreneurs need to be on the lookout at all times. Three key steps recommended to entrepreneurs to keep in mind with this new act are…
1.) Know your rights – “A good idea doesn’t matter without control over the invention”
2.) Know the implications of the new law – With the new system, the patent game is a race. An entrepreneur can file a provisional patent to have an expedited process that protects you for one year.
3.) File ASAP – Those who now file first have rights to the invention, whether or not they actually invented it first.
For more information from FOX Business – www.smallbusiness.foxbusiness.com