He's often referred to as one of the most brilliant people sitting on the bench. Agree or disagree, this much is beyond dispute: Judge Richard Posner is one of the more prominent public intellectuals in America. He also ranks as one of the nation's most outspoken jurists.
The latest evidence for that appellation comes in the form of an op-ed he's written for The Atlantic with the title, "Why There Are Too Many Patents in America."
A patent blocks competition within the patent's scope and so if a firm has enough patents it may be able to monopolize its market. This prospect gives rise to two wasteful phenomena: defensive patenting and patent trolls. Defensive patenting means getting a patent not because you need it to prevent copycats from making inroads into your market, but because you want to make sure that you're not accused of infringing when you bring your own product to market. The cost of patenting and the cost of resolving disputes that may arise when competitors have patents are a social waste.
The problem is aggravated by the right to a jury trial in cases in federal court when plaintiffs ask for monetary damage awards, according to Posner. Another issue he points to: Judges and juries have difficulty understanding tech.
"Yet patent plaintiffs tend to request trial by jury becaus... [Read more]
No comments:
Post a Comment