Patent Systems: More Easily Faulted than Fixed

Abstract:     
The U.S. patent system has been the subject of three recent, generally critical, studies. One, particularly uncomplimentary, primarily faults a changed source of funds for patent examination and creation of a court that, aside from the Supreme Court, has exclusive jurisdiction to consider patent appeals, both administrative and judicial. This paper explains why neither criticism is well taken. It also analyzes reactions of the U.S. Congress and Supreme Court to allegedly new problems caused by so-called patent thickets and patent trolls.

Keywords: innovation, patent critics, patent reform, invalid patents, patent examination cost, patent litigation cost, patent courts, comparative roles of judge and juror, patent infringement, patent remedies, patent thicket, patent troll, doctrine of equivalents, obviousness

JEL Classifications: O31, O38

Accepted Paper Series