If you’re a small business owner and an entrepreneur, then you ought to check out the new patent law and the most major changes to it in some 60 years. With the stroke of a pen, President Obama recently signed the America Invents Act into law. You may not have heard much in the media about this new law, because both parties agreed to it. While the devil is in the details, and many remain to be seen, many regard the law as less than favorable to entrepreneurs. The biggest change is that instead of being a first-to-invent system (i.e.,…
Depending on who you follow, Congress has either delivered a great gift to entrepreneurs and inventors, or shackled them with a terrible handicap: the House last week passed legislation to overhaul the U.S. patent system for the first time in 60 years, making the effort one step away from being put before President Obama’s executive pen. As reported by The Wall Street Journal, the House managed a bipartisan maneuver with more than two-thirds of lawmakers from each party supporting the “America Invents Act,” passing it on a 304-117 vote. The overhaul essentially breaks down into two big changes. Firstly, it…
For years there has been something of a vacuum working on American markets in the form of an outflow of highly educated immigrant workers returning home to such countries as India and China, because they could not get visas to stay here. As a result, entrepreneurship is booming in those countries, instead of in the U.S. As Bloomberg Businessweek reports though, there is work underway to stem the tide and keep some of this top talent here. The legislation is being put forward by Senators John Kerry (D-Mass.) and Richard Lugar (R-Ind) in the form of an updated version of…
Economic indicators are improving, and with them, small business optimism. If you are an entrepreneur, you’re ready for some rosy economic news, but you’re also likely to try to take matters into your own hands … which is a good thing. Raj Seshadra, head of small business banking at Citibank, was quoted in a recent issue of The Paper with five excellent steps small business owners can take now to help hasten their own economic recovery. Keep track of all funds that come into or go out of your business on a daily, weekly, and monthly basis. Tracking expenses is…
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