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The U.S. Patent and Trademark Office (“USPTO”), in collaboration with academic and business professionals, established the Peer Review Pilot Program (the “Pilot”) to test whether “the organized collection and submission of documents together with comments by the public will produce better examination results by presenting prior art known by the public to the Examiner early in the prosecution.” The Pilot began accepting applications and prior art submissions on June 15, 2007 on “Peer-to-Patent,” the software framework for the Pilot. The last day for submitting patent applications to the PTO's peer-review pilot program was June 15, 2009. The USPTO is currently in the evaluation phase of the Pilot, and is expected to publish a comprehensive report outlining the results and next steps.
Whether the Pilot will be extended or become permanent is currently unclear. The Pilot appears to have the support of the Obama administration. During his presidential campaign, the President stressed the need for “opening up the patent process to citizen review,” as discussed at www.barackobama.com. As President he appointed Beth Noveck, a creator of Peer-to-Patent, to the Technology, Innovation, and Government Reform team, which is dedicated to “fostering innovation within government.” Upon launching the Open Government Initiative, which is intended to solicit ideas from the public for increasing transparency in government, the White House Web site featured the Pilot as one example of how government can use “transparency, participation, and collaboration to achieve [its] mission.” Open Government Innovations Gallery, www.whitehouse.gov/open/innovations. The Pilot also received praise in an initial evaluation from Examiners, applicants, commentators, and government officials, as noted in the First Anniversary Report. Center for Patent Innovations at New York Law School: Peer-to-Patent First Anniversary Report, available at http://dotank.nyls.edu/communitypatent/P2Panniver saryreport.pdf (hereafter “First Anniversary Report”). The First Anniversary Report tracked participation on the Peer-to-Patent Web site and surveyed reviewers and Examiners during the first year of the pilot program. Therefore, it seems possible that the program will be extended and even expanded.
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
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