Aside From Inventors Who Will Benefit From Inventors Legislation?

Aside from inventors, who will benefit from America Invents Act legislation? HR 1249 is a bill that has recently passed through the Senate and will soon be put to a vote in the House of Representatives. There are many different views on how this act, if passed through Congress, will affect American ingenuity.

The America Invents Act is a basic overhaul of a patent system that has been instilled for a very long time. Originally, men or women would file for a patent under the understanding that they had invented their product first. If someone stole the idea and filed for a patent beforehand, all the original inventor had to do was prove that is was his invention, and the patent would then revert to him. HR 1249 changes this. This makes it a “first-to-file,” standard. Regardless of who really invented it first, the person who files for the patent keeps it permanently.

There’s been a lot of debate on the impact this will have on American society as an inventive one. Although inventors will benefit from this by being able to permanently secure their patents without fear of retraction, it might also harm them. If someone steals their idea, it’s too late.

Corporations are the biggest winners in this game. Big companies and corporations will find that the America Invents Act is perfect for them. They have merely to spread out, scan their horizons, and patent whatever inventions they wish as many times as they want. Their patents are permanently secured, and they don’t have to worry about the “invented first,” rule. While this is good news for corporations, it’s bad news for small businessmen. Big companies can take their ideas and have no fear of being sued or losing that patent because – regardless of who came up with the idea – they filed first.

Lots of controversy is being waged over this one act. Another hidden benefactor that is receiving dividends from the act is banks. This bill will bail them out by solidifying their fight against Claudio Ballard and the company he owns, DataTreasury. His company patented an invention that allows the electronic submission of checks. Banks, under HR 1249, would once again be able to challenge that patent. Therefore, the two main benefactors are corporations and banks.

If the bill passes the House of Representatives in late May or June of 2011, HR 1249 can be expected to be greeted with both extreme happiness and vehemence. Small businessmen oppose the bill, while big corporations and banks obviously support it. While the constitutionality of the America Invents Act is still being questioned, time will tell if this will make an impact on the Republican controlled House.