Patent - Economics - Criticism - Proposed Alternatives To The Patent System

Proposed Alternatives To The Patent System

According to James Bessen, elimination of the patent system would increase the incentives for innovation in all industries except chemistry and pharmaceuticals by eliminating startup litigation costs.

Alternatives have been discussed to address the issue of financial incentivization to replace patents. Mostly, they are related to some form of direct or indirect government funding. One example is the idea of providing "prize money" (from a "prize fund" sponsored by the government) as a substitute for the lost profits associated with abstaining from the monopoly given by a patent. Another approach is to remove the issue of financing development from the private sphere all together, and to cover the costs with direct government funding.

Trade secrets are an existing alternative to the patent system. Given their popularity, it has been proposed to strengthen nondisclosure and employment law pertaining to trade secrets.

Read more about this topic:  Patent, Economics, Criticism

Famous quotes containing the words proposed, alternatives, patent and/or system:

    It is not always possible to predict the response of a doting Jewish mother. Witness the occasion on which the late piano virtuoso Oscar Levant telephoned his mother with some important news. He had proposed to his beloved and been accepted. Replied Mother Levant: “Good, Oscar, I’m happy to hear it. But did you practice today?”
    Liz Smith (20th century)

    The literal alternatives to [abortion] are suicide, motherhood, and, some would add, madness. Consequently, there is some confusion, discomfort, and cynicism greeting efforts to “find” or “emphasize” or “identify” alternatives to abortion.
    Connie J. Downey (b. 1934)

    The cigar-box which the European calls a “lift” needs but to be compared with our elevators to be appreciated. The lift stops to reflect between floors. That is all right in a hearse, but not in elevators. The American elevator acts like the man’s patent purge—it works
    Mark Twain [Samuel Langhorne Clemens] (1835–1910)

    The human body is not a thing or substance, given, but a continuous creation. The human body is an energy system ... which is never a complete structure; never static; is in perpetual inner self-construction and self-destruction; we destroy in order to make it new.
    Norman O. Brown (b. 1913)