U.S. Overhauls Patent Law, Eliminates 'First to Invent' Test

President Obama signed into law changes to the nation’s patent process that major chemical firms say are important steps in streamlining the U.S. system and promoting innovation. The statute, the America Invents Act, also will remove financial roadblocks that have slowed the patent approval process in the U.S. and stifled competition by making the U.S. system more cumbersome than systems used overseas, industry representatives say. The law removes one of the biggest differences in the U.S.’s patent approval process compared with other countries: The...

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