Concluding Thoughts

• Author: Joseph P. Kennedy/Wayne H. Watkins/Elyse N. Ball (With)
• Profession: Distinguished Professor of Polymer Science and Chemistry at The University of Akron/Associate Vice President for Research at The University of Akron/Project Manager for the University of Akron Research Foundation
• Pages: 131-138

CHAPTER 14

CONCLUDING THOUGHTS

14.1. IS THE PATENT SYSTEM WORTH THE COSTS?

The patent system is of great benefit to society, because it fosters the creation

and commercialization of significant innovations that continue to improve

the human condition (Figure 14.1). An appreciation of the patent system is

essential for emerging technical professionals to effectively contribute to the

innovation ecosystem, as well as to their employers. We are fortunate to be the

beneficiaries of wise forbearers who authorized intellectual property systems

through the U.S. Constitution and created the patent system.

It is true that there is a cost to implementing the patent system. It does

limit exploitation of innovation by some parties for a period of time. It is also

costly to maintain the patent infrastructure including the patent office, patent

professionals including attorneys and agents, and the patent-related courts.

However, such disadvantages are offset by the value created via incentives

leading to innovation. But for the patent system, many inventions would not

have attracted sufficient investment to be created and developed.

Notwithstanding, the case has been made that the patent system is also an

innovation inhibitor—particularly in such fields as information technology,

where large systems often require thousands of innovations. The disruption by

How to Invent and Protect Your Invention: A Guide to Patents for Scientists and Engineers,

First Edition. Joseph P. Kennedy and Wayne H. Watkins with Elyse N. Ball.

© 2012 John Wiley & Sons, Inc. Published 2012 by John Wiley & Sons, Inc.

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