While battles rage onward legally by hundreds of companies over their patents being violated, the government is looking to overhaul the US patent system. The government has known since the 70′s that the changes made then would not last. Now the time has come to finally do something about the patent system, something that should have happened a long time ago.

Basically, according to the president and members of his staff, they feel weakening the patent approval system could jeopardize the smaller business owners. Some of the largest companies today started as a tiny operation.

Sure, the patent system needs reform. Its nuts when you head to Google, in the news area type in patents, you can watch daily as the lawsuit articles pile up. Imagine there are tons more that do not even make the headlines.

The key is to keep everyone safe from patent issues caused by a reform, small and big businesses alike. The cost of products that we buy hinge on company costs. If companies are constantly in court and spending money defending themselves, then the cost of goods will certainly rise and share prices will be lower.

Yes, it’s time for reform, but be careful not to hurt the small investors in the process.