SWACHA Announces Support for the United States Patent and Trademark Office's Proposed New Rules of Practice to Improve Patent Quality and Limit Litigation Costs
Dallas, TX, February 24, 2012 --(PR.com)-- Dallas-based SWACHA, one of the largest not-for-profit regional electronic payment associations in the country today announced its support for the proposed rules recently announced by The United States Patent and Trademark Office (USPTO) for the provisions of the America Invents Act that provide for trials before the patent Trial and Appeal board. The proposed rules of practice are intended to establish a more efficient and streamlined patent system to improve patent quality and limit unnecessary litigation related to patent disputes.
“The new rules will help put an end to questionable patents and will provide a cost-effective alternative to litigation,” said Dennis Simmons, APP, president and CEO of SWACHA. “For many businesses, and specifically those in the electronic payments industry, the prevalence of frivolous patent lawsuits do nothing more than result in large litigation settlements that drive up costs for both businesses and their customers.”
The USPTO is currently soliciting comments on the proposed rulemaking and will be holding a public meeting in Dallas on February 29, 2012 at the Dallas Public Library from 10:30 a.m. to 4 p.m.
The Leahy-Smith America Invests Act was enacted into law in 2011. The law switches the U.S. patent system from a “first to invent” to a “first to file” system and represents the most significant change to the U.S. patent system since 1952.
About SWACHA
SWACHA-The Electronic Payments Resource®, is one of the largest not-for-profit regional payments associations in the country with approximately 1,100 members across the Southwest. SWACHA is the resource of choice for financial institutions and corporations in the areas of education, training, payments system risks and knowledge about electronic payments. For more information visit:
Web: www.swacha.org
Facebook: www.facebook.com/bringingpaymentstogether
Twitter: @SWACHA
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“The new rules will help put an end to questionable patents and will provide a cost-effective alternative to litigation,” said Dennis Simmons, APP, president and CEO of SWACHA. “For many businesses, and specifically those in the electronic payments industry, the prevalence of frivolous patent lawsuits do nothing more than result in large litigation settlements that drive up costs for both businesses and their customers.”
The USPTO is currently soliciting comments on the proposed rulemaking and will be holding a public meeting in Dallas on February 29, 2012 at the Dallas Public Library from 10:30 a.m. to 4 p.m.
The Leahy-Smith America Invests Act was enacted into law in 2011. The law switches the U.S. patent system from a “first to invent” to a “first to file” system and represents the most significant change to the U.S. patent system since 1952.
About SWACHA
SWACHA-The Electronic Payments Resource®, is one of the largest not-for-profit regional payments associations in the country with approximately 1,100 members across the Southwest. SWACHA is the resource of choice for financial institutions and corporations in the areas of education, training, payments system risks and knowledge about electronic payments. For more information visit:
Web: www.swacha.org
Facebook: www.facebook.com/bringingpaymentstogether
Twitter: @SWACHA
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Granado Communications Group
Chris Martin
214-599-8467
www.swacha.org
Chris Martin
214-599-8467
www.swacha.org
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