The Promoting and Respecting Economically Vital American Innovation Leadership Act, or PREVAIL Act, seeks to amend title 35 of the United States Code to reinforce the nation's patent system. Congress finds that reliable patent protection is crucial for innovation, economic success, and national security, noting that unintended consequences of past reforms have driven down investment. The bill aims to correct these issues by implementing significant changes to patent review processes. A key focus of the bill is the Patent Trial and Appeal Board (PTAB), for which it mandates a code of conduct for its members, drawing inspiration from the Code of Conduct for United States Judges. All appeals and reviews before the PTAB will now be heard by 3-member panels , and any PTAB member involved in the decision to institute a review will be ineligible to hear that review . These provisions aim to enhance the integrity and impartiality of PTAB proceedings. The legislation introduces more stringent requirements for petitioners in inter partes review (IPR) and post-grant review (PGR) proceedings. It broadly defines a "real party in interest" to include anyone making a financial contribution to the review. Petitioners must now certify their standing, such as being a qualified nonprofit, having a bona fide intent to engage in potentially infringing conduct, or having been sued for infringement. To prevent repetitive challenges, the bill establishes a "single forum" rule, generally prohibiting petitioners from simultaneously challenging patent validity in both PTAB and federal court or the International Trade Commission (ITC). It also strengthens estoppel provisions, preventing petitioners from raising arguments that were or could have been raised in a prior review. Furthermore, the Director must reject petitions presenting substantially similar prior art or arguments unless exceptional circumstances are demonstrated. The bill significantly alters the evidentiary standards for IPR and PGR, applying a presumption of validity to previously issued claims. Petitioners will now bear the burden of proving unpatentability of issued claims by clear and convincing evidence , a higher standard than previously required. For claim construction, the Office must use the same standard as federal courts, considering the ordinary and customary meaning and prosecution history, and must consider prior court constructions. Finally, the PREVAIL Act addresses the funding of the United States Patent and Trademark Office (USPTO) by establishing the United States Patent and Trademark Office Innovation Promotion Fund . This revolving fund will receive all patent and trademark fees, ensuring they are available to the Director without fiscal year limitation to cover all Office expenses related to patents and trademarks. The bill also expands the definition of "micro entity" for fee purposes to include certain applicants associated with institutions of higher education and mandates a Small Business Administration report on patent impacts, alongside free online access to USPTO public search facility materials.