SCHUMER INTRODUCES BILL TO BROADEN AIA PROCEDURE FOR CHALLENGING PATENTS

//SCHUMER INTRODUCES BILL TO BROADEN AIA PROCEDURE FOR CHALLENGING PATENTS

SCHUMER INTRODUCES BILL TO BROADEN AIA PROCEDURE FOR CHALLENGING PATENTS

SCHUMER INTRODUCES BILL TO BROADEN AIA PROCEDURE FOR CHALLENGING PATENTS

On Monday Sen. CHARLES SCHUMER (D-New York) introduced S. 866, a 1-page bill “to make improvements in the transitional program for covered business method patents and for other purposes.”  The bill amends section 18 of the AIA, which established the “Transitional Program for Covered Business Method Patents.”  Schumer’s bill introduced yesterday broadens the definition of “covered business method patent” by deleting the limitation to “a financial product.”  It also eliminates the 8-year sunset provision from AIA section 18.  Yesterday’s bill apparently follows up on Schumer’s announcement last week that he would introduce a bill to combat suits by “trolls,” but the bill is not restricted to patents owned by any particular type of owner.  IPO’s committees will study the bill.