Patents Laws & Economic Productivity

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The idea of giving creators a limited exclusive right to their intellectual property began in England in 1710. The “Statute of Anne,” inspired our Founding Fathers and was incorporated into the United State’s Constitution. There are three types of intellectual property. Trademark ™, Copyright ©, and Patents. The last two are more controversial because they both give the creator exclusive rights to their invention/writing for a limited time. They were meant to benefit both society and creator. Unlike copyright, patents further prevents another company from reverse-engineering the product and selling it for less. Patents are also harder to get; To get a patent it has to be approved by the United States Patent and Trademark Office (USPTO). Although the fashion industry has benefited from not having patents; Competitors constantly steal ideas from each other and cost for consumers are lower as a result. The existential U.S. Patent laws we have today are counter productive and slow the process of innovation in other fields.
The fundamental idea of patents is that it is an agreement between inventors and society. The inventor is encouraged to keep inventing to benefit society and as a return the government grants the inventor with a monopoly over its sale. Patents were written about when the Constitution was framed. The Founding Fathers believed they should “Promote the progress of Science and Useful Arts, [by] securing for limited times the exclusive rights to their [invention].” (Constitution Article I, Section 8, Clause 8) This one clause was originally meant to give an inventor a limited monopoly so that they can make profit, while also the society will benefit from the disclosure of the information about the invention and can build...

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Roth, Zachary. “The Monopoly Factory.” Washington Monthly Vol. 37, No. 6. June 2005: 12-19. SIRS Issues Researcher. Web. 24 Feb. 2014.
Streitfeld, David. “Note: This Headline Is Patented.” Los Angeles Times (Los Angeles, CA). Feb. 7 2003: A1+. SIRS Issues Researcher. Web. 25 Feb. 2014.
Teachout, Terry. “Copyright Protection That Serves to Destroy.” Wall Street Journal. 15 Mar. 2013: D.6. SIRS Issues Researcher. Web. 21 Jan. 2014.
“When Patents Attack!” Hosted by Ira Glass. Prod. Ben Calhoun, Jane Feltes, and Sarah Koenig. Episode #441. This American Life. Hosted by Ira Glass. NPR. WGBH, Boston, 22 July 2011. Print. Transcript.
“When Patents Attack... Part Two!” Hosted by Ira Glass and Zoe Chase. Prod. Alex Blumberg, Julie Snyder, and Ben Calhoun. Episode #496. This American Life. Hosted by Ira Glass. NPR. WBEZ, Boston, 31 May 2013. Print. Transcript.

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