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Detailed text transcripts for TV channel - FOXNEWS - 20110228:17:46:00

Listen. if we get patent reform legislation done and the uspto is set free, deficit neutral to go attack that backlog and put patents out so americans can create jobs i believe you re going to see at least hundreds of thousands, and over a period of kwraoer years, literally milf jobs created. reporter: think about the laser which now appears in everything from that barcode scanner in your supermarket to saoupblg cal equipment and imagine all of the jobs that that single invention has created in numerous industries. obviously bakers say streamlining the patent process could produce thousands, perhaps millions of jobs. jon. jon: it sounds like common-sense to me. i know this bill faces a lot of opposition. what is the debate about? reporter: it does indeed. one of the most controversial aspects of the bill is that it would begin awarding patents to ....

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Detailed text transcripts for TV channel - FOXNEWS - 20110228:19:27:00

Rate. the bill is aimed at streamlining the u.s. patents and trademark office which faces a backlog of applications, each taking three years to approve. with technology advancing as rapidly as it does today with your invention may not be relevant by the time a patent issues. reporter: it s funded by applications fees. the reform bill would allow the agency to keep surplus funds and invest them in new equipment and personnel. if we get patent reform legislation done and they are set free deficit mutual to attack that backlog and put patents out so americans can create jobs i believe you will see hundreds of thousands and over a period of years millions of jobs created. one of the most controversial ....

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Detailed text transcripts for TV channel - FOXNEWS - 20110228:17:47:00

The first to file for a patent instead of the current u.s. system which awards patents to the first to invent. some trade groups say this would force individuals and saul companies to waste time and money filing patents preempt lee before they seek outside funding or technical support or risk divulging their concept to someone else who might develop it and run to the patent office with it. others say it would protect small entities from costly legal challenges and make the whole process more objective and efficient listen to this. if we can reduce dependency, reduce the amount of time necessary to go from a great idea to a patent it will inevitably lead to more job creation and a stronger economy here in the united states. reporter: now similar attempts at patent reform failed in 2005 and following years but it s enjoying renewed interest as part of the obama administration s winning the future agenda, promising more ....

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