Amends 35 U.S.C. 283 by replacing subsection (a) text as indicated and adding a new subsection (b) that establishes a presumption in favor of granting permanent injunctions upon a finding of patent infringement, sets the evidentiary standard (clear and convincing evidence) for overcoming that presumption, states the patent owner need not make or sell a product to show irreparable harm, and defines 'patent owner' to include the owner of the patent or an exclusive licensee.

Revises 35 U.S.C. 282(a) to establish that a patent and each claim of a patent are presumed valid in any judicial or administrative proceeding conducted in any court, Federal agency, or State; dependent and multiple dependent claims are presumed valid even if dependent on an invalid claim; and the burden of establishing invalidity rests on the party asserting invalidity by clear and convincing evidence.

Adds subsection (d) to 35 U.S.C. 282 to toll the patent term during a validity challenge from the time the patent's validity is challenged until resolution of the validity issue by the court; provides that the patent term resumes upon resolution and authorizes the court to award damages to the patent owner if another party brought a validity claim in bad faith.

Replaces 35 U.S.C. 122(b) to require that patent applications be published only upon the request of the patent applicant and to provide that information concerning a patent application is not available to the public unless and until a patent issues.

Adds new section 106 to title 35 establishing that a patent right is a private property right secured to an inventor upon issuance and may only be revoked by a court ruling in a judicial proceeding, unless the patent owner consents to an administrative or other procedure.

Modifies 35 U.S.C. 261 by altering wording in the first sentence and inserting additional text after the second sentence clarifying transferability of patent applications, patents, and interests and the binding effect of restrictions on successors, heirs, assigns, or licensees with actual or constructive notice.

Amends the table of sections for title 35 by adding at the end a new item for the added chapter/section (chapter 10 / section 106).

Amends section 102 of title 35 by replacing its text with a new provision titled 'Conditions for patentability; novelty' that (a) enumerates categories that bar patentability (numbered (1)–(7)) and (b) limits when disclosures in patent applications and patents constitute prior art (subsections (b)(1)–(b)(3)).

Replaces the text of 35 U.S.C. 101 with new language defining patentable subject matter, adding an explicit exception for claimed inventions that exist in nature independently of and prior to human activity or that exist solely in the human mind, and stating that eligibility is determined without regard to sections 102, 103, and 112.

Revises how patent and trademark fees are credited and made available, establishes the United States Patent and Trademark Office Innovation Promotion Fund as a revolving fund in the Treasury to receive fees, makes deposited amounts available without fiscal year limitation for specified USPTO expenses, transfers remaining unobligated balances into the new Fund on the effective date, and terminates the existing Patent and Trademark Fee Reserve Fund once obligated amounts are paid.