Is It Time To Rethink The Patent System? What Is A Patent? What Are Their Costs And Benefits? Video
Is It Time To Rethink The Patent System?
In this video, I define what a patent is, why patent’s were originally specified, and possible problems with the patent system.
A patent is a temporary right to the sole use of some intellectual property right. The patent system was originally designed to encourage people to innovate, and to encourage people to openly disclose the design details of this innovation after a certain period of time.
There are several problems to patenting.
1. Costs associated with the patent. Many of us are well aware of the very large cost of going through the patenting system, but the larger costs are due to litigation to defend a patent. For individual innovators, it’s often prohibitive to defend a patent. Many people will turn to patent lawyers who will take on a case but at a quite large cost to the innovator. Not to mention the time and effort to defend the patent.
2. Patenting ignores other benefits of free disclosure of designs. There are many implicit benefits of freely disclosing an innovation beyond the direct benefit of profiting from that innovation. It is quite well known that there are reputation benefits to freely disclosing. There are also benefits from the increased adoption and diffusion of the innovation. Free disclosure of ideas encourages distribution.
3. Patenting is based on a single mode of innovation. This is the producer innovator - an innovating firm that explicitly profits from the innovation. There are other modes of innovation, such as single user innovation. These are normally lead users that like to innovate to simply make their job easier or to do so because innovating is fun. Patenting encourages fear and prevents people from freely disclosing. A much more common form is a open collaborative form of innovation that is spreading extremely fast. Open collaborative innovation is more about innovating because people are interested in innovating for its own sake. As Baldwin and von Hippel (2011) point out, these forms of innovating are likely to get more important as communication costs, and costs to development decrease over time.
Perhaps, there are other forms of incentives to encourage innovation rather than through having barriers. For example, perhaps tax incentives or special rewards for those who innovate on a regular basis may be more effective in the new world of innovation.
References:
Baldwin, C.Y., E. Von Hippel. 2011. Modeling a paradigm shift: From producer innovation to user and open collaborative innovation. Organization Science. 22(6) 1399-1417.
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As a research professor of entrepreneurship, innovation, and business strategy, I discuss topics, such as behavioral science, strategy, innovation, and entrepreneurship, and apply these to my new peer proofreading and editing platform. Topics include the sharing economy, altruism, investing in technology, and bounded rationality. My favorite videos pertain to incentives, goal setting, and learning from failure to drive behaviors such as weight loss, stopping telemarketers, creating novel technologies, and creating new movements.
r3ciprocity.com: Peer proofreading and editing platform
A new platform where you can earn credits by editing other people's documents. Use these credits to have your own work edited. If you do a good enough job, you can convert these credits to money.
The goal of the platform is to get people to 'pay it forward' and help other people out by creating incentives for people to give back.
Check out www.r3ciprocity.com
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