Con: In the long run it will still likely favor big companies with the staff and resources to get patent applications in quickly, putting smaller companies and individual inventors at a relative disadvantage.

2. 'Micro Entity' Status

A special "micro entity" status included in the new law will benefit individual inventors. Specifically, for inventors with fewer than five previous patent applications and a limited household income, among other requirements, the law reduces the fees required to file a patent by some 75 percent, as California patent attorney Andrew Schroeder recently .

Pro: A clear financial benefit for qualifying inventors.

Con: Only that you must meet a fairly detailed set of requirements to be included.