Agency Information Collection Activities; Proposed Collection; Comment Request; Project No. P131203
The existence of patents has served to stifle innovation in the United States economy. This is evidenced by the fact that Patent Assertion Entities exist in the first place. The Federally enforced patent system allows for entities to stifle the ability of individuals to bring enhanced innovations to market. If an entity produces an innovative product, such as the iPhone, the entity is more than capable of keeping the technological innovations secret, until commercial release. This allows the entity a significant leap on any competitors that enter the marketplace. If, in the case of Samsung, an entity is capable of not only quickly entering the marketplace, but also improving upon the original technology of the iPhone, it forces Apple to go back and produce a better product and invest more into developing new innovations (this increases economic productivity!). This process increases competition, decreases the cost of entry into the marketplace, and also benefits consumers by offering them a broader selection of products at a wider range of prices. Allowing for the unrestricted ability of an entity, or individual, to file a patent; incentivizes frivolous patent filings and contributes to a marked increase in lawsuits stemming from these filings. These increased filings and suits have the trickledown effect of increasing the burden on an already strained Federal Judiciary, and putting further pressure on an already strained Federal Budget. In addition to preventing unfettered economic growth, which benefits all groups in society.