House passes patent overhaul bill

ITWorld reports on legislative action by the House

The House passed the Patent Reform Act by a vote of 225-175. The Senate has not yet acted on a similar piece of legislation.

However, the White House Office of Management and Budget (OMB) issued a statement on Thursday saying it opposes the bill. It said that the changes in assessment of damages would "introduce new complications and risks reducing incentives to innovate." The OMB objections raise the possibility that President George Bush could veto the legislation.