On Sept. 16, President Obama signed the America Invents Act into law. This patent reform bill is the first major legislative overhaul of the U.S. patent system in 60 years and is the product of six years of Congressional attempts to implement patent reform. The America Invents Act significantly changes the current patent system, including switching to a “first-inventor-to-file” system, introducing post-grant patent review, allowing third-party prior art submissions, and addressing deficiencies in U.S. Patent and Trademark Office (USPTO) funding and operations.
Medtech companies must adopt dynamic patent strategies to thrive in this changing patent landscape. A strategic patent portfolio includes both offensive and defensive patents that maximize value while minimizing competition. To build a strategic patent portfolio amid patent reform, medtech companies should file patent applications faster, monitor competitors’ patents, and submit relevant prior art in competitors’ pending patent applications. Medtech companies also should be ready for more change and uncertainty over the next 18 months as the USPTO implements rulemaking to meet the patent reform provisions discussed below.