The Senate overwhelmingly passed legislation to overhaul the U.S. patent system, reviving a long-stalled effort and raising industry hopes that the biggest changes to patent laws in almost six decades could soon be enacted.

Almost 60 years have passed since the last revisions to the patent system, but thanks to a recent Senate decision we may be on the brink of some big changes. The trouble is that if you are an entrepreneur or are an innovative small businessman, you might be coming up short with this reform. As MarketWatch reports, there are a number of changes introduced in the bill even if certain decisions were dropped from the original proposal. The biggest change in the Senate’s overhaul decision is a transition of patent-rights. Whereas patents have always been under a “first to invent”…

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