SmallBusinessNewz

A study was recently released detailing the negative impact the U.S. patent system has had on small businesses.

This study (PDF), conducted by the Small business & Entrepreneurship Council (SBE Council) suggests a reform of the system to that of the "Patent Reform Act" claiming that this would benefit small businesses and the economy in general.

"In the 21st century global economy, the major advantages of the U.S. are our entrepreneurial skills and abilities to innovate," writes Raymond Keating, SBE Council chief economist and author of the study. 

"In order to fully capitalize on this competitive edge, we must protect intellectual property in a rigorous and cost effective way.  The Patent Reform Act is an important step in achieving this serious goal," he says.

Flaws with the current patent system according to the study include:

- Lack of patent quality

-  It is ambiguous and costly, and

- Litigation is out of control

The Patent Reform Act is expected to be voted on by the Senate early this year.

The act, which was introduced last year is detailed in this post from the Patent Law Blog. Do you agree that this is the solution to the flaws of the U.S. patent system? Do you agree that the system is flawed?