Obama Signs Patent Reform Into Law

Law360, New York (September 16, 2011, 1:44 PM EDT) -- President Barack Obama on Friday signed the Leahy-Smith America Invents Act into law, saying the patent reform legislation will promote innovation and lead to patents being issued more quickly.

"We need to do everything we can to encourage the entrepreneurial spirit wherever we find it," Obama said at the signing ceremony at Thomas Jefferson High School for Science and Technology in Alexandria, Va.

The president said the law will cut down on the U.S. Patent and Trademark Office's current backlog of more than 700,000 pending patent...
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