In part to bring the United States into closer alignment with the rest of the world, the AIA eliminates the first-to-invent system for U.S. patent applications with an effective filing date of March 16, 2013 or later.

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Such a concept made its way out of LG HQ and into the hands of the United States Patent and Trademark Office, however, and three years after its submission date, the proposed device has returned to haunt the South Korean manufacturer, in the form of an issued patent.

ENGADGET

If Company A does not make any public disclosures regarding the invention before the August filing, Company B can get the patent by virtue of its earlier filing date.

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Patent applications filed before that date can still realize the benefits of the first-to-invent system.

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It makes sense that the value of companies is based upon the right to exclude all others for 15 years or more (U.S. patents are valid for 20 years from the filing date, but the examination process in the Patent Office will eat up a significant amount of time).

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One other thought, I think the Composition of Matter patent expires for Herceptin in EU during 2014, but in the US the date is 2018 or 2019.

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