President Obama Signs Invents Act

President Barack Obama signed the America Invents Act, a patent reform legislation, in Alexandria, Virginia. "I am pleased to sign the America Invents Act. This much-needed reform will speed up the patent process so that innovators and entrepreneurs can turn a new invention into a business as quickly as possible," he said. Here in America, our creativity has always set us apart, and in order to continue to grow our economy, we need to encourage that spirit wherever we find it."

The patent reforms were a key recommendation of the President's Council on Jobs and Competitiveness to support job creation and strengthen America's competitiveness in the global economy particularly in biotechnology, medical devices and advanced manufacturing.

President Obama also announced additional initiatives to move ideas from the lab to market. These include the development of a national bioeconomy blueprint detailing steps to harness biological research innovations to address national challenges in health, food, energy, and the environment.

The full article is at http://www.whitehouse.gov/the-press-office/2011/09/16/president-obama-signs-america-invents-act-overhauling-patent-system-stim