Patent System a Patent Is Essay

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Thus, according to Heller and Eisenberg, useful innovations that build on earlier patented inventions can be inhibited by the high transaction costs from negotiating with the earlier patentees.

There are several compelling arguments that patents aren't really that economically efficient for organizations. For instance, Bessen and Meurer (2008) point out the complexity of the patent system; stating that a prospective technology investor would need to check a very large number of patents. If a company is selling online, these authors cite a patent risk management firm as saying there are more than 4,319 patents a company could be violating. or, if a company advertises, receives payments for goods or ships goods, there are approximately 11,000 patents that the company should check into. Further, Bessen and Meurer (2008) believe that America's patent system isn't efficient because it doesn't offer clear and efficient notice of the boundaries of the rights granted.

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As a result, expensive patent litigation is common and the costs of patents now outweigh the benefits bestowed through protection. .

In summary, patents do not always facilitate and encourage disclosure of innovations into the public domain for the public good and they do not always reward innovation acquired through expensive research and development efforts. Reform may be needed in areas such as public health interests, "patent trolling," fragmentation and legal complexity......

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