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Article Summary
Two U.S.Senators have introduced a bipartisan bill to strengthen patent protection in the United States.The STRONGER Patents Act,designed to improve the patent system,includes provisions which would permit injunctions to protect patent owners against infringement both during and after court cases and guarantee fairness in administrative proceedings by limiting repetitive and harassing challenges against inventors.Changes over the last decade have lessened some U.S.patent rights,while countries such as China and Germany have moved to strengthen their own patent protections.In 2016,the United States fell to 10th place in the U.S.Chamber of Commerce's international ranking of patent system strength.
Source: Brian Pomper,"Senators Coons and Cotton Introduce STRONGER Patents Act of 2017," ipwatchdog.com,June 21,2017.
-Refer to the Article Summary.If the STRONGER patents Act of 2017 does not become law and patent protection in the United States continues to fall further behind patent protection in other countries,which of the following would most likely occur in the United States?
Market
A venue where buyers and sellers meet to exchange goods, services, or financial instruments.
Inventory Item
An inventory item refers to any goods or merchandise kept on hand by a business for the purpose of resale to customers.
Physical Inventory
A count of all inventory a business physically has in its possession at a specific point in time.
Income Statement
A financial statement that shows a company's revenues, expenses, and net income or loss over a specific period of time, providing insight into its profitability.
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