Bill > S1553

This bill, known as the PREVAIL (Promoting and Respecting Economically Vital American Innovation Leadership) Act, seeks to reform the U.S. patent system to strengthen intellectual property protections and support American innovators. The bill introduces several key changes to patent review processes, including establishing a new code of conduct for the Patent Trial and Appeal Board, limiting repetitive patent challenges, and adding more stringent requirements for petitioners seeking to review patents. It aims to address unintended consequences of previous patent reform laws by making patent reviews more difficult to file and preventing strategic challenges designed to harm patent owners. The bill also includes provisions to eliminate fee diversion from the U.S. Patent and Trademark Office, ensuring that patent-related fees are used specifically for patent processing and related activities. Additionally, the legislation expands definitions for micro-entities, particularly for institutions of higher education, and requires the Small Business Administration to study patent ownership and infringement actions affecting small businesses. The bill's broader goals include maintaining the United States' position as a global leader in innovation, protecting inventors' property rights, and supporting the economic contributions of intellectual property-intensive industries.

Justice

https://www.congress.gov/bill/119th-congress/senate-bill/1553/all-info