Statement by the President on Senate Passage of the America Invents Act

“Creating new jobs and new opportunities in a fiercely competitive world demands policies that encourage and support American innovation and ingenuity.  So I’m pleased that, on a bipartisan basis, the Senate has passed the most significant patent reform in over half a century.  This long-overdue reform is vital to our ongoing efforts to modernize America’s patent laws and reduce the backlog of 700,000 patent applications – which won’t just increase transparency and certainty for inventors, entrepreneurs and businesses, but help grow our economy and create good jobs.  I want to thank Senators Leahy, Grassley and Hatch for their leadership on this issue, and I look forward to working with the House of Representatives to pass patent reform legislation I can sign into law.”