Many people complain about patent law, but have you ever asked yourself what would happen if patent laws did exist in our country? Do we still need patent laws considering the fast pace of technology? By the time someone gets a patent, they are probably well into production, and they are modifying their products and services as they learn new things in the marketplace, and at that point the patent has to continually be upgraded. The original patent filing becomes nothing more than a concept of what might be done. Almost like the original outline for business plan, when it is nothing more than a gleam in an entrepreneur's eye.
Further, it's hard to say if patents even matter anymore, due to international corporate espionage, and the fact that some of our latest trading partners are constantly stealing our intellectual property, copying our personal tech devices, hijacking our brand names, and then selling these products all over the world. Large companies especially in the technology field have to move so fast, or they will get passed by the competition thus patents often are not worth the paper they were written on, nor will the patent help the company protect itself from their competitors. (read: Bloomberg Business Week issue March 16, 2012, cover story; "Hey, China! Stop Stealing Our Stuff," for more insight).
Sure, the company can sue if someone steals their idea, but by the time the lawsuit is over, that technology has been leapfrogged three or four times, so it's not even relevant at that point. Patent law is interesting because it grants a temporary monopoly on that technology, and this was done to make it worth the risk to invest in new inventions. But now it seems it doesn't really matter, and these corporations who are bringing forth technologies must bring them forth so fast that the entire patent process is becoming burdensome, slow, and actually getting in the way.
The companies don't need a patent, what they need is running speed in the marketplace, and that would provide more competition, and lower prices for consumers and buyers of these technologies. That could increase the productivity of our economy and be akin to an adrenaline shot. It seems unfortunate that on one hand our government tries to prevent monopolies, however with patent law it grants monopolies from the onset. It's almost as if we have a schizophrenic set of rules and regulations, and it is impeding business.
Worse, for the smalltime inventor, they don't have the wherewithal or the money to defend their patents anyway. They might spend all their money getting a patent in the first place, but then another company steals it, or someone from China just takes it, starts making these things, and all that money they spent on getting a patent, they may as well have spent getting their product ready for market. The smalltime inventor with the proper backers might be able to take it to market, but that doesn't negate the international competition, and it only means the smalltime inventor has no chance. Thus they must sell it, give it away, or have it stolen.
In that case, we aren't protecting the smalltime inventor, and the corporations don't need our protection, nor do we need them busy fighting in court, they should spend those resources moving ahead to the next generation of technologies. If we got rid of the patent laws altogether, what would change? Well, one could say that everything would change, but that would not prevent corporations and businesses, or entrepreneurs from taking risks in the marketplace as long as there are buyers and sellers willing to partake in trade of their hard-earned dollars those technologies.
Because this issue is so complicated, and clouded with lawyers, laws, politics, corporate interests, international challenges, and regulations it's just turned into a giant fiasco of biblical proportions, and I would submit to you that we are not helping ourselves by continuing to legitimize this monster we've created. Either we need a complete overhaul of patent law, or we need to ditch the whole thing, because it's not stopping China from taking what they want anyway. May as well have Americans copy Americans in that case. Indeed I hope you will please consider all this and think on.
What to Do With Your Great Idea - Should You Trademark, Copyright or Patent?
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