Today, November 21, 2024, The Senate Judiciary Committee reported the PREVAIL Act favorably out of Committee in a vote of 11-10. Chris Israel, Executive Director of the Alliance of U.S. Startups and Inventors for Jobs (USIJ), issued the following statement:
“USIJ applauds the Senate Judiciary Committee for their favorable report of the Promoting and Respecting Economically Vital American Innovation Leadership (PREVAIL) Act. This legislation restores fairness and predictability to the patent system and is a significant step toward protecting the rights of inventors, safeguarding competition, and ensuring that the United States remains a leader in global innovation. By addressing loopholes exploited under the current Inter Partes Review (IPR) process, the PREVAIL Act ensures that inventors and small businesses can defend their patents without being subjected to endless, duplicative challenges.
USIJ looks forward to working with the Senate Judiciary Committee to secure PREVAIL’s passage on the Senate floor.”