The worldwide patent system needs to change
The world we’re living in could be so much better if the current patent systems wasn’t so dysfunctional. Of-course many will argue that the elites of the world want our patent system to stay just where it is in 2014 however I think it’s more than that because I think even the up and coming inventors like the current patent system because of the enormous wealth potential an individual can achieve if he or she can come up with an innovative idea that many businesses will need to derive their ideas from.
How to change the patent system
I saw the world puts a buyout system in place where in simple terms if I create an Idea and it’s proven that someone in some way shape or form copied or is using a product or service that I patent I should be entitled to take a percentage no more than 1% of the profits from that person’s business and any derivatives there of.
This system wouldn’t allow the patent owner to put a lien on a business however when that corporation public or private, or sole proprietor files taxes the patent owner should be given the right to have access to that entities financial records and should be able to pursue legally the money he or she is owed based on the new laws governing the patent system.
This would quicken the legal process and would also stop businesses from destroying emerging business by suing them for large sums of money and also dragging out the legal process in the courts. This would obviously have to be a global system and boycotts and trade wars could also be a reality under this system for legal entities not playing fair. Where this could change the world is on the consumer end of things where a smart business person would see that profits would out perform the cost of doing business. The key thing I’m getting at is taking a FIXED percentage instead of a huge lump sum and stunting economic growth by keep a proprietor or legal entity in the courts. More ideas and innovations mean more jobs and better economic growth.
We need a patent system in place that assists in fueling economic growth
I’m not a genius on this topic and I’m sure there are others that have similar ideas however but my point is is that there must be a system in place to stop these companies from controlling the economic conditions of the world. Because to me the patent system is the new gold standard. In the past the gold standard monetary system was controlled primarily by money speculators this prevented government from stimulating the economy during economic hardships.
Well no the innovation which is the lifeblood of our world is being suppressed by legal battles. Government is too slow to keep up with businesses, just like in the past Government was too slow to react to money speculators. There needs to be a concrete patent system in place to prevent bigger companies from pushing around smaller companies. Without growth our world is doomed for failure and the only way we can grow is through innovation. We need a patent system that reflects our fast paced global economic planet.