Today, former Texas Congressman Lamar Smith published an opinion piece in the Dallas Morning News on two bipartisan bills that could revitalize innovation and help entrepreneurs in the United States: the PREVAIL Act and the Patent Eligibility Restoration Act.
The PREVAIL Act would reform the Patent Trial and Appeal Board (PTAB), preventing Big Tech firms from abusing it to overwhelm their smaller rivals with litigation. The Patent Eligibility Restoration Act would clarify confusion caused by Supreme Court decisions about what kinds of inventions are patent-eligible, assuring investors that they can safely fund high-tech startups without fear that lack of patent protections will prevent them from seeing returns.
In the piece, Smith argues that both bills could benefit America’s economy by strengthening the patent system and empowering entrepreneurship.
“Congress should focus on efforts like these to ensure the patent system continues to serve its historic role incentivizing inventors and helping drive the U.S. economy.”