DIGEST OF INTRODUCED BILL
Trademarks, service marks, and patents. Exempts income from adjusted gross income taxation that is derived from a qualified patent issued to a taxpayer domiciled in Indiana. Requires that a qualified patent must have resulted from a development process conducted in Indiana. Provides that a taxpayer may not claim more than $5,000,000 in exemptions in a taxable year. Provides that a taxpayer may not claim an exemption for income derived from a particular qualified patent for more than five years. Establishes that a color mark, scent mark, flavor mark, sound mark, or three dimensional mark may be registered if the mark meets certain conditions. Provides that a person may file an application to register a trademark or service mark if the person has a bona fide intention to use the mark and certain requirements are met. Requires a court to award attorney's fees to a prevailing party in certain actions concerning marks. Removes: (1) trade names from the trademark law; and (2) the requirement that the secretary of state may require an applicant to provide information on whether the trademark or service mark has been filed in the United States Patent and Trademark Office.