Patents can be misused in a couple of ways, often by big companies. Hi, I’m JD Houvener, the founder of Bold Patents Law Firm. I’ve helped over 500 inventors get their patents. Let’s talk about how patents can be misused today.
One way is when companies extend a patent’s life beyond 20 years. Normally, a patent lasts for 20 years. But some companies find ways to keep making money from it after that time. They bundle the patent with other products or services and sell it in packages. Sometimes, they do this through agreements with businesses or even regular consumers. This means they’re still making money from an expired patent.
Why is this a problem? Patents are meant to give inventors a chance to benefit from their ideas for a limited time. After 20 years, the patent should be public so others can use it. When companies keep making money off it, they stop others from using the invention. That’s not how the patent system is supposed to work.
Another misuse comes from patent trolls. A patent troll is someone who owns patents but doesn’t make anything with them. They wait for other people or companies to use their patents, then sue them. They don’t help create anything new, and they don’t make any products. But their patents can still push the industry forward, even though they aren’t doing anything with them.
So, these two problems—companies extending patent life and patent trolls—are some of the big ways patents are misused today. Both stop innovation from moving forward.
Thanks for reading. Go big, go bold!