Friday, May 22, 2015

Patent reform could be end of invention

Invention in America has turned ugly – it costs too much and risks are too high.

So what happened to bring this kind of damage to all of us? I think it’s because we are hunting a comic book character – a patent troll. Many describe this fictitious character as an unscrupulous inventor who sues a small business for infringement. The small business has to settle even though it doesn’t feel they infringe, because it is far too expensive and risky to fight it.

To slay the patent trolls, since 2005, virtually every significant change to [US] patent law has had the by-product of increasing the risks and costs for inventors. The America Invents Act did this in 2011, and now, four years later, we are told the patent troll problem has worsened and we need to pass the Innovation Act, which would further raise those risks and costs. The result is that the solution is creating a new problem.

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