Tuesday, December 04, 2018

US Intellectual Properties Duplicity and Patent Reform

The present USA-China intellectual properties conundrum is a result of corrupt U.S. patent law that tilts the advantage to those with deep pockets able to afford and defend patents. The exclusivity of patents retards technological economic development and needs reform. The rich exploit ideas of the poor that cannot afford the patent process that was designed for the 19th century.

The remedy is to reduce patent exclusivity to 3 years. After three years anyone could produce a patented item and just pay the inventor and patent holder 10% of what the item sells for per unit. The inventor is protected yet anyone can soon manufacture an item lawfully with no need to plunder it with theft.

In the contemporary speed-of-light global Internet era the slowness of patents let them have a good chance of leaking. Security on brilliant new ideas is difficult to maintain. Patents cost thousands of dollars and millions for defense if they are profitable items.

The world economy needs new ideas right away; not in several decades. The concentration of wealth is reinforced by the present patent system that lets those already wealthy buy everything in sight creating a Jabba the Hut syndrome of preferred locations soaking up everything that passes.

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