Patent trolls, a subset of non-practicing entities, have
simultaneously stifled innovation and increased the prices of technological
goods. Their modus operandi is to buy patents
off dying companies at low prices and then use those patents to sue practicing
entities for hundreds of thousands of dollars.
I’m sure these overpaid litigators enjoy the high financial rewards of
such lawsuits, especially since they have the unfair advantage of not needing to specify their charges until after legal charges have been mounted. However, I believe that
behind the scaly green exterior of the cold-hearted patent troll is a human
being itching to escape. If anyone
reading this is a patent troll, consider the harmful effects that such
meaningless litigation has on the United States economy: the prices of technological goods rise while
the rate of innovation falls. Because of a harsh litigious environment, many tech companies go bankrupt defending against patent troll lawsuits while the tech companies that do survive also have to raise the prices of their goods to compensate for legal expenses. Unless these litigators don't want to see the cure for cancer anytime soon, they had better apply their gifted legislation skills elsewhere.
I'd like to see laws of some sort that are aimed at preventing the existence of patent trolls. Perhaps something in the tax code about a portion of revenues from patent litigation needing to be used for research and development of the patents in question.
ReplyDeleteThe question I have is, do patent trolls look at themselves as such. They probably have their company mottos to help innovators and maybe even believe it. It's easy to justify that what you do for a living isn't bad.
ReplyDelete