Patent Trolls An Essay - 2569 Words

Patent Trolls A Hindrance to the Economy and to Computer Science By Shawn Karber PHIL 343 Final Paper 05/02/2015 Patent trolls, often referred to as Patent Holding Companies (PHC) in the media, are a defamation to the ideals that the United States patent office were meant to promote, that is protection for the innovators and inventors of America. Wikipedia defines patent trolls as â€Å"a person or company who enforces patent rights against accused infringers in an attempt to collect licensing fees, but does not manufacture products or supply services based upon the patents in question†¦Ã¢â‚¬ .1 (Patent troll.) Not only do they undermine the ability of small companies or individuals to experience success and profitability through invention, they also hamper the progress of society, especially in fields of technology. PHCs are a devastating problem in the United States, not only in terms of their impact on global markets and progression, but also in terms of how many PHCs there are and how big they can become. To understand the breadth of the problem, it is important to understand how prevalent patent trolls have become. According to an article in the Washington Post, patent trolls now account for 67 percent of all new patent lawsuits. Just five years ago, the article says the number of PHC-filed suits was 28 percent less.2 (Patent Trolls Now Account for 67 Percent of All New Patent Lawsuits.) With an average increase of 5.6 percent a year, it is evident that patent trolls areShow MoreRelatedPatent Trolls Essay630 Words   |  3 PagesPatent Trolls Patent Trolls as defined by Investopedia is a term used to describe companies or people that misuse patents as a business strategy. These patents are bought by Non-Practicing Entity’s (NPE) who buy these patents from bankrupt companies and auctions and have no intentions of developing it. Their business strategy is to do some research and file lawsuits against infringing companies. These Patent trollers cost the US Company billions of dollars each year. They disruptRead MoreIntellectual Property ( Ip ) Is Everywhere1550 Words   |  7 Pageseverywhere. IP is inventions. IP is literary and artistic works. IP is designs or symbols. IP is names and images used in commerce. Almost everything is IP. These things can be protected by patent, copyright, service mark, or trademark. These topics are very complicated; the consolidated version of US patent laws and rules is over 200 pages long. While there are many good things about IP protection, there are also many unnecessary problems with it that should be changed. Some of these problems includeRead MoreEssay on The Mobile Phone Market 3108 Words   |  13 Pagesparts that differentiates them as an individual organisation. The essay addresses the logic behind the focus on intellectual property and evaluates how this now impacts on industry and the firms involved within it. The essay will focus on the mobile phone market with many companies having leading brands in the market. This industry is interesting to evaluate as it is very fast paced with many well-known companies engaging in patent wars. Recently competition within the market has got so fierce that