post Wednesday June 13, 2012
Small companies are the backbone of the US economy, they account for about 50% of the country’s GDP annually. Given the importance of small business, the United States Patent and Trademark Office (USPTO) has amended the Leahy-Smith America Invests Act in favor of micro entities regarding patent application and management. As a qualified micro-entity, the applicant can take advantage of reduced patent fees, receiving a discount of 50% for small entities and 75% for micro entities, on the fees for “filing, searching, examining, issuing, appealing and maintaining patent application and patents”. With this procedural adjustment, the qualifications for claiming micro entity status and the requirements of micro entities are changing.
This amendment will enhance the ability of micro entities to issue patents, as they contribute substantially to the cultivation of innovation, adding to US economic growth.
source: IP Today
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