Let's Use Patent Fees to Stop the Trolls

Abstract

Citing empirical evidence that non-practicing entities assert relatively old patents that cover inventions in relatively fast-paced industries, this essay argues that the PTO should increase the number and magnitude of patent renewal ("maintenance") fees in order to hasten the expiration of suspect software patents and reduce the prevalence of suits filed by so-called "patent trolls."

Keywords: PTO fees, maintenance fees, patent troll, NPE, patent term, America Invents Act, software patent

JEL Classification: O34, K00