Question

What are the problems with the current patent laws that relate to technology? Research the Internet regarding issues being mentioned by incumbent corporations versus start-ups.  

Answer 1

Problems with current Patent Laws

We can clearly observe the patents on a wide extensive part of the world. The persons or the firms from many parts of the world holds the patent rights over a variety of products and also on different technology they handles. But it is most important that we can clearly see the patent rights in some industries in much more in numbers than the others. The technological field is one such field, there we can clearly analyze the presence of many patents.

We must examine the two sides of a coin, to finalize the result. Like that the patent rights has a lot of problems which are difficult to convey. For example if a firm has introduced a new technology and presented in front of the world, there is a chance to proceed a patent right over the product. This mainly happens in a case, when the individual or the firm holds a patent right over the product but the product is not familiar and used in very limited number. But when an another firm introduce a new product similar to this one. They will go for a patent right over the product and which in tun discourages the new establishments and discovery of the product. And another problem is that when a firm approach the patent authority to to use the technology, there is a chance in which they will go for a unnecessary bargaining over the price and also it will give them a chance to threaten the competitors over the technology that they owned. In most cases, the patent authority is not the one who utilize it while they owns only the authority over the product. So in this case there is a great chance for the above mentioned things to happen. And also there is no international protection in some cases for the patent. The owner is not fully protected internationally with his product. And also we can detect a wide difference in the cost and benefit of the patents. It is detected that a very low amount is provided to ensure the patent for a particular interval of time. Both the incumbent corporations and start-ups faced with these issues. And mostly the start-ups are more complicated with this issue rather than the incumbents. Because of the lack of experience to tackle such situations and also some firms lacks the financial assistance to hold such a huge amount.