House OKs increase in patent fees

[dArKeR]

WASHINGTON - The House voted Wednesday to raise patent fees, agreeing that the additional dollars were needed to save the overburdened Patent and Trademark Office and ensure that U.S. innovators are not stymied.

Without a strong office, said Rep. Lamar Smith, R-Texas, chief sponsor of the bill, "Our economy would be devastated, our quality of life would be diminished and jobs would be lost or never created."

The legislation raises most patent fees by about 15 percent. It also takes steps to end the practice of sending that money into the general Treasury fund instead of using its for patent and trademark processing.

http://www.msnbc.msn.com/id/4442331/

[Gin]

1. I heard a caller on CSPAN say that patents will only be

protected for 18 months now.. instead of 20 years. I was surprised to hear that..and wonder what the pharmaceutical companies say about the change.