Innovation Asset Blog

BIO calls for changes to patent reform bill

Despite its support for reform of the U.S. patent system, the Biotechnology Industry Organization recently called for changes to the patent reform legislation that was recently passed by the House Judiciary Committee.

Called the America Invest Act, the bill has had support from politicians in both major parties and is widely viewed as a bipartisan initiative designed to encourage innovation and create jobs in the U.S. economy.

Jim Greenwood, CEO and president of BIO, said his organization has "consistently praised" House Judiciary Committee chairman Lamar Smith for introducing the patent reform bill. Nevertheless, BIO is opposed to an addition proposed by congressman Robert Goodlatte.

According to Greenwood, the original formulation of the bill included a supplemental examination provision that "would allow patent holders to seek a review of their issued patents at their own risk." Greenwood claimed that an amendment introduced by Goodlatte "undercuts this provision" by having the U.S. Patent and Trademark Office "act as a quasi-investigative body."

Greenwood said BIO is now opposed to the bill being considered by the House of Representatives. Nevertheless, he said the organization is committed to working with politicians to "rectify the issue, so that a patent reform bill with broad support can be brought to the floor of the House."

Peter Ackerman

Peter Ackerman

Founder & CEO, Innovation Asset Group, Inc.