As mentioned in my previous blog post, non-practicing entities purchase patents to then sue other companies for money. Also known as patent trolls, these people are now being attacked by our very own President Obama because all they do is coerce other companies. Patent offices are such an important institution because they do so much for protecting inventions and letting companies flourish through competitive advantages. But now, they are under risk of these trolls who just want to sue and make money, when instead the patents could be going to a company that actually needs to use the invention to create their product. Government has been slow to keep pace with technological growth and advancement -- so many laws are now either outdated or don't even exist for our technology structure today. Government needs to step up and prevent these patent trolls from doing real damage before it's too late.
Article:
http://mashable.com/2013/02/14/obama-patent-trolls/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Mashable+%28Mashable%29
I agree completely; patent trolls, and America in general, have been in a "sue-happy" mode for several years now and I feel that being able to sue so easily is simply inhibiting innovation. How many more new products would be on the market if not for fear of being sued?
ReplyDeleteI agree too. Too much money is being wasted in law suits which could be propelled in other areas in order to further the financials of the company.
ReplyDelete@Taylor - It's impossible to tell, the only thing we can do is try to change the "sue-happy" culture in America.
ReplyDeleteIt's the payoffs of the game that elicit such behavior. I think the legal system of the United States in a way encourage this kind of sue-happy behavior. Is it morally wrong? Yes. But it's also morally fair in a typical scenario. The patent troll lawsuits are an edgecase lawsuit turned mainstream from the incentive schemes.
ReplyDeleteJames Maa
I also did a blog about patent trolls or NPE's. Unfortunately, how would one stop such companies and firms from existing without stifling the rest of the industry as a whole. Once that can be identified than the problem will be solved.
ReplyDelete