Patent Attorney and Founder
Today, I’m diving into a tough question: Why are patents bad?
I’m JD Houvener, a patent attorney and the founder of Bold Patents Law Firm. Over the years, I’ve worked with thousands of inventors, helping them get their patents approved. I also wrote a book, Bold Ideas: The Inventor’s Guide to Patents, and I’m here to help you understand something you might have heard—why patents might not always be as great as they sound.
I know, as someone who’s built a career around patents, talking about their downsides might seem odd. But hear me out. I’d love to hear your thoughts on this after you watch.
First, let’s talk about patents from a big-picture perspective. A patent, in simple terms, is a promise from the U.S. government. If you share how to make and use your invention in enough detail, they’ll give you a monopoly for up to 20 years. No one else can use, make, or sell your invention during that time. That’s the reward for sharing your idea.
But there’s a flip side: the monopoly can hurt consumers. No competition means you, the inventor, or your company can charge higher prices for that invention. For up to 20 years, no one else can offer a cheaper version. So, while the inventor benefits, the rest of us might end up paying more for the same product.
Then there’s the tricky issue of healthcare and medical inventions. This one hits me personally. I believe in the power of innovation to improve lives. But when it comes to pharmaceuticals and medical treatments, things get complicated. I think it’s hard to justify letting a company hold a patent on a life-saving drug just to make money. Imagine holding back a generic drug that could save lives, simply to profit from a solution that could help people in need. That feels wrong to me.
It’s easy to criticize big pharma for this, but it’s a valid concern. I just think that in some cases, the right thing to do is to make that solution available to those who need it most. But hey, that’s just my view. I’m sure you might have other examples of how patents could be a bad thing, especially in certain industries.
Now, let’s switch gears and talk about patent trolls. These are individuals or companies that don’t actually make anything themselves. Instead, they wait for someone else to bring a new product to market. Then, they swoop in with a letter claiming the inventor has infringed on their patent, even though they’re not selling anything. The inventor is forced to either pay them a royalty or face a lawsuit.
This is a common story, and it feels pretty bad. It can stop innovation in its tracks, especially for new entrepreneurs trying to bring something to market. However, the patent itself isn’t bad—just the way it’s being used. If a patent is held by someone who isn’t actively using it to make products, it can become a barrier to progress.
So, there you have it—patents have their downsides. They can delay solutions from reaching the market, especially in industries like healthcare. Patent trolls can also create huge headaches for startups. But at the same time, patents can still be valuable tools for inventors. It’s all about how they’re used.
If you found this interesting, hit the thumbs up. And if you haven’t already, grab our free Inventors Kit below. It’s packed with resources like patent search options, application tips, and my ABC Patent Flow, plus the Patent Success Matrix. Click the link and take action today.
I’m JD Houvener with Bold Patents, wishing you the best on your journey. Go big, go bold!