Abstract
The Leahy-Smith America Invents Act (AIA), adopted by the United States government in 2011, created an Inter Partes review (IPR) process that invalidates a large percentage a patents that are challenged with this process. The IPR process has resulted in a 61% decline in the average price per patent in the United States, resulting in an aggregate drop in the value of the US economy of $0.5-1.3 Trillion.
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