A slight drop in the PTAB instituted trial rate in Q1 2024, from Q1 2023, comes as the USPTO moves closer to finalizing what could be the first in a series of planned internal reforms. The agency recently released a long-promised Notice of Proposed Rulemaking that includes new rules governing “serial” and “parallel” petitions as well as validity arguments previously addressed by the USPTO, also creating a separate briefing process for discretionary denials and requiring the filing of pre-institution settlement agreements.