Exempts medical practitioners or related health care entities from patent infringement remedies by reason of their performance of genetic diagnostic, prognostic, or predictive tests.
Repeals patent infringement liability with respect to certain medical activities of persons or their employees or agents who are engaged in the commercial development, manufacture, sale, importation, or distribution of a machine, or composition of matter or the provision of pharmacy or clinical laboratory services (other than clinical laboratory services provided in a physician's office).
Requires funding agreements with small business firms or nonprofit organizations to contain appropriate provisions that require the contractor, within 30 days after applying for a patent on a subject invention which involves a patent for, or a patent for use of, genetic sequence information, to make that information public. Subjects Federal agencies to a similar requirement when applying for patents on genetic sequence information.