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South Dakota
Key Economic Indicators
Item Rate
CPI: 0.0% (Jun 2017) 
GDP Growth: 1.2% (1st Qtr 2017)
Prime Interest Rate: 4.25%
Consumer Confidence: 118.9% (Jun 2017)
Small Biz Confidence: 103.6% (Jun 2017)
Avg Gas Price: $2.25










12 September 2011


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How Patent Reform Can Help your Small Business

The America Invents Act, H.R. 1249 (Also known as the Leahy-Smith America Invent Act)

The patent process can be a long, complicated and expensive process.  Many, who contemplate starting a new business with their own inventions are deterred by the process.  It takes an average of over two years to get an application through the patent office.

In an attempt to make the patent process quicker and less expensive congress passed the American Invents Act.  The aim of the bill is to reduce litigation by improving patent exams.  The measure allow patents to be granted to the first inventors to file, rather than requiring inventors to show they were the first to develop an innovation. This would bring the U.S. patent process in line with that of many other countries.
The bill also lets the Patent and Trademark office to set their own fees and keep the money they earn so that they can hire personnel and make technical upgrades to make the process more efficient.
The bill was introduced by Republican Congressman Lamar Smith (co-sponsored by Democrat Patrick Leahy) and passed both houses with overwhelming majorities.  Those who opposed it claimed that it would give an advantage to deep-pocketed companies over individual inventors.
The bill is awaiting the Presidentís signature to become law.

To see full text of the bill that will go into law

By Owen Daniels









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