Tuesday, August 7, 2012

Week 5 EOC: Patent Trolls

This Patent Trolling is getting out of hand I think. I understand that it is the corporations job to have their patents up to date and all and that they expire in 17 to 20 years and all they have to do is pay a fee every four years.(The Wall Street Journal) So it's not very hard to stay on top of that and that someone in that department, assuming that their is one for that. That they are shirking their responsibilities, but honestly are people really that greedy? Corporations can be corrupt and steal money and only care for the shareholders and the CEO's and what not but are these people these patent lawyers really to their common man any good? The Patent, Copyright & Trademark book, refers to "Patent Trolls" as a disparaging term for someone who sues for patent infringements. in other words, the patent troll is in the business of suing companies. So I guess it would make sense why it's layer who are patent trolls because they are already in the business of suing anyway. Let alone from what I've read that these are patent lawyers anyway, or close relatives in some cases. And  a violator had to worry about was paying a $500 penalty for misleading the public. But it is up to $500, but defendants are worried about having to pay the $500 for every little item, an example of a mascara bottle. (Wall Street Journal) Which is a hefty sum considering that the product depending on the brand can cost form $1 to $15.  Substantial difference in payment value.  For me personally yes someone should keep the corporations in check, but patent trolling is just devious. These people are only thinking of themselves and what money they can make out of it. Not even thinking of the ramifications that it could have to the lowly workers. They corporations have to pay out large sums of money to people who found a loop whole so the corporation has to make back that money. So what do they do, fire people, close business, raise prices. These patent trolls don't think about anyone else, just what they can get to screw the man.

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