The U.S. Supreme Court is poised to consider software patents for the first time in decades, weighing a case that has divided the computer industry and may affect almost half the country’s patent suits.
The U.S. Supreme Court agreed to hear an appeal by Teva Pharmaceutical Industries Ltd. in a move that may delay generic competition to the company’s top-selling Copaxone multiple-sclerosis drug and alter how patent appeals are handled. Teva rose on the news.
Pfizer Inc., the world’s biggest drugmaker, faces competition to its $3 billion arthritis pill Celebrex in May after a federal judge invalidated a patent that would have extended protection through December 2015.
Massachusetts Institute of Technology President Susan Hockfield said during a panel discussion in Washington that Congress must keep its pledge to let U.S. Patent and Trademark Office, or PTO, have control over all the fees it collects to promote innovation and spur job creation. The Oct. 5 event, sponsored by Harvard University and the Business Roundtable and hosted by Bloomberg News, centered on ways to spur innovation.
Senate Judiciary Committee Chairman Patrick Leahy reintroduced a proposal for changing U.S. patent laws to include constraints on infringement damage awards and rules intended to speed the application process for inventors.