Many people complain about patent law, but have you ever wondered what would happen if there were patent laws in our country? Do we still need patent laws given the fast pace of technology? By the time someone gets a patent, they are likely in production and are modifying their products and services as they learn new things on the market, and at that point the patent needs to be continually updated. The original patent application becomes nothing more than a concept of what could be done. Almost like the original outline of the business plan, when it is nothing more than a glint in the eye of an entrepreneur.

Furthermore, it is difficult to say whether patents already matter, due to international corporate espionage and the fact that some of our latest business partners are constantly stealing our intellectual property, copying our personal technological devices, hijacking our trademarks, and then selling them. products all over the world. Big companies, especially in the technology field, have to move very fast, or they will be approved by the competition, so patents are often not worth the paper they were written on, nor will the patent help the company to protect yourself from your competitors. (Read: Bloomberg Business Week Issue March 16, 2012, Cover Story; “Hello China! Stop Stealing Our Stuff” for more information).

Sure, the company can sue if someone steals its idea, but when the lawsuit ends, that technology has been outmatched three or four times, so it’s not even relevant at the time. Patent law is interesting because it gives a temporary monopoly on that technology, and this was done to make it worth the risk of investing in new inventions. But now it seems that it doesn’t really matter, and these corporations that are producing technologies must do so so quickly that the entire patenting process is becoming cumbersome, slow, and indeed in the way.

Companies do not need a patent, what they need is speed of execution in the market, and that would provide more competition and lower prices for consumers and buyers of these technologies. That could increase the productivity of our economy and be akin to an adrenaline rush. It seems unfortunate that on the one hand our government tries to avoid monopolies, however with the patent law it grants monopolies from the beginning. It’s almost like we have a schizophrenic set of rules and regulations, and it’s hampering business.

Worse still, for the small-time inventor, he doesn’t have the means or the money to defend his patents anyway. They might spend all their money getting a patent in the first place, but then another company steals it, or someone from China just takes it, starts doing these things, and all that money they spent getting a patent, they might as well. they have made. dedicated to preparing their product for the market. The little inventor with the right sponsors could get it to market, but that doesn’t negate international competition and it just means that the little inventor doesn’t stand a chance. Therefore, they must sell it, give it away, or have it stolen.

In that case, we are not protecting the small-time inventor, and corporations don’t need our protection, nor do we need them busy fighting in court, they should spend those resources moving toward the next generation of technologies. If we completely eliminated patent laws, what would change? Well, you could say that everything would change, but that would not prevent corporations and businesses, or entrepreneurs, from taking risks in the market as long as there are buyers and sellers willing to trade those technologies with their hard-earned dollars.

Because this topic is so complicated and clouded by lawyers, laws, policies, corporate interests, international challenges, and regulations, it has turned into a giant fiasco of biblical proportions, and I would tell you that we are not helping ourselves by continuing. legitimize this monster that we have created. Either we need a complete overhaul of the patent law, or we have to get rid of everything, because that doesn’t stop China from taking what it wants anyway. It could also make Americans copy Americans in that case. In fact, I hope you will please consider all of this and reflect.