[JURIST] The European Parliament [official website] voted 648-14 on Wednesday to toss a draft law [PDF proposal text] that would have protected inventions combining software and machinery. Opponents of the proposed law [EU FAQ] feared [JURIST report] that would have stifled small businesses and protected large ones by creating patent lawyer and litigation costs. European governments wanted the law passed to encourage investment in an industry largely dominated by the US. There are currently no plans for submitting a new proposal. Read an EP press release on the vote. Bloomberg has more.