I have a modest proposal to get rid of these patent trolls and these ridiculous settlements that typically are decided by a jury of West Texas farmers.
Patents ought to be designated a non-transferrable property. Inventors may create a trust that receives patent revenues, and direct those revenues to any entity they please (their own company, their heirs, another company, a charity, etc.) but would not be able to actually sell the patents to any other company or individual.
Then, patent holding companies would evaporate, and the revenue for ideas would go to those who created the ideas. If a company created many patents, say, Kodak, then goes out of business, it would leave behind a trust that would continue to receive revenue on those patents until they expired. If you choose not to, you can forfeit the patent and then it becomes public domain.
Patents ought to be designated a non-transferrable property. Inventors may create a trust that receives patent revenues, and direct those revenues to any entity they please (their own company, their heirs, another company, a charity, etc.) but would not be able to actually sell the patents to any other company or individual.
Then, patent holding companies would evaporate, and the revenue for ideas would go to those who created the ideas. If a company created many patents, say, Kodak, then goes out of business, it would leave behind a trust that would continue to receive revenue on those patents until they expired. If you choose not to, you can forfeit the patent and then it becomes public domain.