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TCH Voices Support for Pending Patent-Reform Bill

The Clearing House Association, along with 12 other trade groups, submitted a letter to the House of Representatives supporting a pilot program to review the validity of certain business-method patents. The program would allow the US Patent and Trademark Office to review the validity of certain business-method patents using the best available prior art as an alternative to costly litigation. On September 16, President Obama signed the America Invents Act into law. Among other things, the law addresses the issue of poor-quality business-method patents by establishing an oppositional proceeding at the U.S. PTO, where business-method patents can be re-examined, using the best prior art, as an alternative to costly litigation. TCH Association, along with other financial-services trade associations, advocated in favor of the legislation.