RALEIGH, N.C. – Saving money for college is something that not only is on the minds of most parents and students, it is also at the forefront of aproposed U.S. House bill aiming to end patents on tax strategy methods, including those related to college-savings plans.
Campbell Law Assistant Professor Lucas Osborn, who teaches and has practiced patent and intellectual property law, was recently quoted in a Wall Street Journal article about the proposed bill. "If you allow tax strategies to be patented, that tax strategy becomes public knowledge and that disseminates knowledge," said Osborn. "If the bill passes, these things are going to be kept secret as trade [secrets]."
A similar version of the bill has passed the Senate, 95 to 5.
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About Campbell Law School: Since its founding in 1976, the Norman Adrian Wiggins School of Law at Campbell University has developed lawyers who possess moral conviction, social compassion and professional competence, and who view the law as a calling to serve others. The School has been recognized by the American Bar Association (ABA) as having the nation’s top Professionalism Program and by the American Academy of Trial Lawyers for having the nation’s best Trial Advocacy Program. Campbell Law boasts more than 3,200 alumni, including 2,200 who reside and work in North Carolina. For 23 years, Campbell Law’s record of success on the North Carolina Bar Exam has been unsurpassed by any other North Carolina law school. In September 2009, Campbell Law relocated to a state-of-the-art building in downtown Raleigh. For more information, visit law.campbell.edu.