Lawmakers introduce patent reform bill in Senate

Senate Judiciary Committee Chairman Chuck Grassley (R-Iowa) and ranking committee member Patrick Leahy (D-Vt.) introduced on Wednesday a patent reform bill that does not include provisions favored by the biopharma industry that would change the inter partes review (IPR) system.

The Protecting American Talent and Entrepreneurship (PATENT) Act would clarify pleading requirements, delay the discovery process and provide a process to recover fees from shell companies. The bill also would assess penalties on patent holders who send misleading demand letters designed to coerce companies into early settlements. Sens. John Cornyn (R-Texas), Charles Schumer (D-N.Y.), Orrin Hatch (R-Utah), Amy Klobuchar (D-Minn.) and Mike Lee (R-Utah) co-sponsored the bill. ...