Why patent trolls are good? 25 reasonstony tony https://secure.gravatar.com/avatar/aa9bbdf8f1e6bbf534778ecea7c0c925?s=96&d=mm&r=g
Why patent trolls are good? 25 reasons
Patent trolls have been criminalized over time due to the uncharacteristic mode of operation that some of them have but behind all the debate, there is some good that the trolls do in the patent field. 25 reasons why patent trolls are good include:
Protects against infringement
Patent trolls are the best when it comes to protecting against infringement since they are proactive in finding the elements that have been infringed upon.
Patent trolls are instrumental in ensuring that inventors are inspired to innovatively create unique elements and products to avoid being caught in the web of litigation brought about by the patent trolls.
Encourage the role of inventors
With patent trolls only in it for the financial benefits that come with checking out creativity in inventions, they encourage the role of inventors by adopting the unique creations.
Drive economic growth
Patent trolls drive economic growth by ensuring people are able to uniquely develop quality creations that are distinct from the rest in the market which drives market research and development.
Institute job creation
The goal of a patent troll is to ensure creative personalities are able to handle what they are good at which is finding creative solutions and this institutes job creation for the same clique of individuals.
Patent trolls have an indirect role in the innovation industry of promoting and rewarding creativity of the inventors.
Covers creditors in bankrupt companies with portfolios
Patent trolls have long been associated with leveraging the patent portfolios of companies facing bankruptcy to cover creditors and hence get financial settlements for all parties involved.
Eliminate the cost of enforcement
Small players in the innovation field always face an uphill task in covering the costs of enforcing a patent but patent trolls offer a way out by taking up the costs to achieve settlement.
Drive the notion of licensing
The presence of patent trolls encourages and drives the notion of licensing where the inventors can easily license or sell their rights to a creation.
They instigate validity checks
Patent trolls are the best when it comes to validating of patents and eligibility settings since they trigger the need for validity checks on features and elements.
Maps new and modern technologies
The new and modern technologies being developed require an entry plan into the market and patent trolls serve as the medium through which the new technologies can be mapped.
Pharmaceutical companies are the biggest winners with patent trolls since the industry is faced with many cases of infringement and duplication which is an aspect that promotes unique innovation.
Contrary to beliefs, patent trolls actually promote exclusivity by ensuring that any possible infringements are prosecuted which gives exclusive benefits to the holders of the patent.
Covers costs for R&D
Patent trolls always ensure that holders of a patent get to cover the costs of R&D through exclusive rights to marketing a product.
Leads to favorable ROI
With all rights secured, patent trolls are responsible for making holders have favorable ROI since all factors concerning the patent are effectively covered.
Lower priced medicine
Within the pharmaceutical world, patent trolls ensure that medicine is priced at a lower setting with an effective contesting of the newly applied and filed patents opening the door for generics.
Consolidation of brand products
Patent trolls contribute to the consolidation of brand products which creates a portfolio of similar elements and creations making it easy to control production and marketing.
Challenge large corporations on proprietary formulas
Large corporations usually make huge amounts on proprietary formulas thereby stifling competition but patent trolls challenge them evening the field.
Lowers the barrier to entry
With patent trolls ensuring that exclusivity of large players in the varied industries is limited, the barrier to entry is lowered with the possibility of development of generic elements.
Distributes profit margins
The good thing with patent trolls is that they distribute profit margins by ensuring exclusivity is broken making other players eligible for sharing the consumer market.
Levelling the playing field
Since patent trolls just hold onto the patents with the goal of challenging large manufacturers who infringe, the field is levelled in terms of having small players get a share of production and have dominion.
Places a leash on big corporations
The main benefit of patent trolls is that they place a leash on big corporation is terms of the power the big players have in controlling the industry and stifling the competition.
Play intermediary role
Patent trolls play an intermediary role between individual inventors and manufacturers by acquiring the patents and licensing the same to manufacturers.
Offer a pathway to liquidity
Companies and inventors targeting liquidity are offered a pathway by the patent trolls who acquire the patents at a fee ensuring the initial holders and compensated.
Are an insurance benefit
Patent trolls act as an insurance medium for inventors who can target the selling of the patents in case they are faced with difficulties in development.