Author(s)
Paul J. Heald
Source
23 Santa Clara Computer & High Technology Law Journal 447, 2007
Summary
This paper looks at the goals of patent law as a guide to patent reform.
Policy Relevance
Patent reform is needed to support further innovation. Keeping costs low is a basic goal of patent law; reforms should make patent rights clear and easy to trade and enforce.
Main Points
- Without patents, potential inventors and users of the inventions would need to arrange complicated transactions to stop users from taking advantage of inventors, or no inventions would be made.
- The cost of such transactions is often high. Intellectual property rights like patents reduce these costs by giving each party a clearer set of rights to begin with.
- Patent reform should be guided by the goal of keeping the costs of dealing between inventors and users low. Desirable reforms would:
- Make existing patents more predictable, enforceable, and tradable
- Let patentees pay more for stronger patents
- Allow parties limited rights to challenge patents before issue.
