ABJ - September 20 - At a ceremony at the Thomas Jefferson High School for Science and Technology, President Obama signed the America Invents Act into law, representing historic patent reform legislation that will help American entrepreneurs and businesses bring their inventions to market sooner, creating new businesses and new jobs.

The America Invents Act represents the most significant reform of the Patent Act since 1952, and will help American companies and inventors who have suffered costly delays and unnecessary litigation focus on innovation and job creation.

Innovation is the primary source of economic growth, job creation, and U.S. competitiveness in today’s global economy. An efficiently operating intellectual property system is critical to the nation’s ability to spur innovation and bring new services and products to the marketplace faster. For investors, patents are strong indicators of market potential for new companies, and for inventors, often vital to attracting investment.

“Our success in creating the conditions that spur new ideas, and our commitment to investing in the education, research and development priorities that help shape our country’s innovation infrastructure will determine the opportunities of future generations,” Acting Commerce Secretary Rebecca Blank said. “These issues will determine whether or not America is home to the industries that will fuel economic growth and the jobs that come with it in the 21st century.”