Patent Trolls: The Cost to Innovation

Hola,

This here will delve into the cost of patent trolls. Clearly, this has been a growing issue in the United States of America as the White House and Congressional leaders have gotten on board to address the issue of patent issues. Many believe that the entire system of patents need to be transformed. Others argue that it is not an actual harm to innovation but rather the number of patent trolls and NPE is actually a good sign that comes with good inventions and they cite the telegraph as something that was contested. Overall, the numbers do not look good. $60 billion dollars are spent annually on such lawsuits making the money essentially useless since it goes into NPE which reap profits and then reinvest to buy even patents in hope of a circular process. This 60 billion annually could go into more research and development but is instead relatively squandered on minuscule patent infringement. Research also shows that patent trolls are actually targeting the money in large R&D firms so it isn't equal for anyone but rather disproportionately focused on large tech firms. According to a survey conducted on tech firms, 41% said patent trolls made their firm change course or exit a business strategy because of lawsuit or otherwise. Overall, some changes should occur to increase the drive for innovation and R&D thriving.