Thursday, March 6, 2014
Patent Frenzy
In a general sense the patent system is effective. One could only imagine how devastating it would be if their invention was ripped off and big business made millions off their brilliant idea. The problem is when some people file myriad of patents in the hope of cashing in on them later. These people are called trolls and they hinders the progress of humanity. Inventors are often stopped or dissuaded from pursuing ventures because of patent litigations which hinder their progress. The patent system needs to be reworked. First, holding the patent should require a yearly fee. This will discourage people from simply sitting on patents with no intent to use them. Second, which corresponds with the first, The duration needs to be shortened. Patents need to enter the public domain much quicker, freeing up the entrepreneurial field to new ventures and possibilities.
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It annoys me too that people just sit on patents. I have heard that oil companies have patents on a lot of efficient engine designs. They just sit on them so people will keep buying as much gas.
ReplyDeleteMaybe a solution to this problem is to only allow people to have patents if they are actually doing something with it, like selling it.
I agree that patents should have a shorter duration for renewal. I think a month is a bit short because not every idea is up and ready in a month or even a year. Would suck to have a great idea but lose the patient because you don't have a product ready to ship in a year. For me a decade is a good even number. If the person with the patient hasn't created a product to sell 10 years after patenting it, it goes to the public.
ReplyDeleteIt certainly makes you wonder how many great inventions are just sitting in some filing cabinet.
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