For example, look at the Wright Brothers. They invented the airplane and didn't make any money. They spent their entire life suing people for stealing their idea. The system should encourage and incentivize creating ground breaking inventions.
For example, look at the Wright Brothers. They invented the airplane and didn't make any money. They spent their entire life suing people for stealing their idea. The system should encourage and incentivize creating ground breaking inventions.
I agree, but I don't think the current patent system does this. I think the length of patents should be reduced dramatically, 5 years sounds reasonable.
It's crazy when you think about how patents last for 20 years, which doesn't really work with the current pace of technology IMO (as an example, the iPhone wasn't released until 2007). So you can't use anything Apple patented to make the ORIGINAL iPhone work until... 2027? That doesn't seem good for humanity to me.
If the lengths were reduced, and the requirements much more strict, I think the world would be a better place.
Think about oxford nanopore and illumina for example. if illumina could just use their patents after 5 years and given that they already have 90% market share, they would be dead.
Their key innovation was wing warping for control, but the industry rapidly switched to flaps and ailerons, leaving the brothers’ main innovation behind. Their aerodynamic concepts were advanced, but again others pushed beyond their concepts very quickly.
So their technical innovations were brilliant, but not used extensively by later engineers.
Their real contribution was coordinated flight control. That is, rotation or roll (via warping or whatever) in coordination with rudder. This is what really made stable air flight possible. They figured this out through tremendous personal expense, scientific method, and personal risk. A sustained multi-year effort. Seems reasonable to get at least some licensing revenue when others copy it.
Their patent trolling is credited with setting back the development of the United States aviation industry for years.
https://en.m.wikipedia.org/wiki/Wright_brothers_patent_war
So really, the only benefit is the actual patent ending up in the public domain, at the cost of further slowing down the field when someone ends up with patent rights assigned andisfeeling particularly litigous.
A proposal (in “Radical Markets”) I agree with is to charge a property tax of, say, 2% for each year that a patent holder wants to keep the patent. The value of the patent is whatever the owner decides it should be but (to prevent claims of $1 values) the owner must sell the patent to the first entity willing to pay more than the declared value.
This, in theory, would ensure that only patents that were genuinely useful would be kept around rather than being used as tools to stifle innovation or rent seek for those that actually create great works.