Patent Trolls: Predatory Litigation and the Smothering of Innovation
Apr 2014 · Sold by Independent Institute
Ebook
96
Pages
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About this ebook
Patent trolls are stifling innovation.
Using overbroad patents based on dated technology, trolls threaten litigation and bring infringement suits against inventors. Trolls, also known as Non-Practicing Entities (“NPEs”), typically do not produce products or services, but are in the business of litigation. They lie in wait for someone to create a process or product that has some relationship to the patent held by the troll, and then they pounce with threats and lawsuits. The cost to the economy is staggering.
Watkins calls attention to this problem and the challenges it poses to maintaining a robust rate of technologically progress. He also examines a more fundamental problem: an outmoded patent system that is fundamentally ill suited for the modern economy. Finally, he examines proposals for reforming the patent system.
Using overbroad patents based on dated technology, trolls threaten litigation and bring infringement suits against inventors. Trolls, also known as Non-Practicing Entities (“NPEs”), typically do not produce products or services, but are in the business of litigation. They lie in wait for someone to create a process or product that has some relationship to the patent held by the troll, and then they pounce with threats and lawsuits. The cost to the economy is staggering.
Watkins calls attention to this problem and the challenges it poses to maintaining a robust rate of technologically progress. He also examines a more fundamental problem: an outmoded patent system that is fundamentally ill suited for the modern economy. Finally, he examines proposals for reforming the patent system.
About the author
William J. Watkins, Jr. is a Research Fellow at the Independent Institute and author of the book Crossroads for Liberty: Recovering the Anti-Federalist Values of America's First Constitution. He received his B.A. in history and German summa cum laude from Clemson University and his J.D. cum laude from the University of South Carolina School of Law, and his LL.M. with merit from the University of London. Mr. Watkins is a former law clerk to Judge William B. Traxler, Jr., of the U.S. Court of Appeals for the Fourth Circuit, and he is President of the Greenville, SC, Lawyers Chapter of the Federalist Society. He has served as a prosecutor and defense lawyer, and has practiced in various state and federal courts. He lives in Logan, Utah.
William F. Shughart II is Distinguished Research Advisor and Senior Fellow at the Independent Institute, the J. Fish Smith Professor in Public Choice in the Jon M. Huntsman School of Business at Utah State University, past President and Distinguished Fellow of the Southern Economic Association, and past President of the Public Choice Society. A former economist at the Federal Trade Commission, Professor Shughart received his Ph.D. in economics from Texas A & M University, and he has taught at George Mason University, Clemson University, University of Mississippi, and the University of Arizona.
William F. Shughart II is Distinguished Research Advisor and Senior Fellow at the Independent Institute, the J. Fish Smith Professor in Public Choice in the Jon M. Huntsman School of Business at Utah State University, past President and Distinguished Fellow of the Southern Economic Association, and past President of the Public Choice Society. A former economist at the Federal Trade Commission, Professor Shughart received his Ph.D. in economics from Texas A & M University, and he has taught at George Mason University, Clemson University, University of Mississippi, and the University of Arizona.
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