Small entities seeking to patent their inventions will pay a discounted fee when applying for fast-track approval under the new patent reform legislation, according to a MedCity report.
The newly passed Leahy-Smith Act sets the filing fee for a new category of prioritized examinations at $2,400 for small entities, compared with $4,800 for large entities.
Getting a prioritized examination shortens the regulatory approval process to one year but is limited to 10,000 patent applications.
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