The bill would also change procedures for challenging patents, before and after they are issued, alter how damages can be assessed and allow the patent office to set its own fees for applicants. It also contains an odd provision that would outlaw patenting “any strategy for reducing, avoiding or deferring” federal, state or local taxes.
The most important change in the bill is to change from a first-to-invent system to a first-to-file system; the latter is the international standard.
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”