Denver, CO – Colorado U.S. Senator Michael Bennet released the following statement today after President Obama signed the America Invents Act into law. The bill passed the Senate last week with broad bipartisan support.

“The signing of this bill is great news for our country’s economy—and for Colorado, where our state’s abundant and entrepreneurial spirit has been needlessly hampered by our current patent process, slowing down the creation of new inventions, new businesses and new jobs. A more efficient, cost-effective patent process will be a catalyst for innovative minds and help our entrepreneurs and our economy thrive.

“The additional satellite offices will provide the infrastructure necessary to support innovators and businesses. As a gateway to the West, Colorado is an ideal location for a new office.  It is perfectly situated to connect innovators and businesses across the country.”

The America Invents Act includes several Bennet-led measures to make the patent process more effective and affordable for small entities; create satellite U.S. Patent and Trademark Offices (USPTO) as a means to relieve the logjam of patents awaiting approval; and to make patent litigation less imposing and more predictable for our innovators. Earlier this year, Bennet spoke on the floor urging the Senate to pass patent reform.  For a video of his speech, click here.