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eBook details

• Title: Commercializing Patents.
• Author : Stanford Law School
• Release Date : January 01, 2010
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 461 KB

Description

INTRODUCTION About half, probably more, of all patented inventions in the United States are never commercially exploited. (1) Many of these undeveloped inventions are commercially worthless ab initio, such as the anti-eating face mask, (2) beer bottle mini-umbrella, (3) and weed-cutting golf club. (4) Yet, for several reasons, the patent "underdevelopment" problem arguably applies to a large share of potentially valuable inventions. (5) First, patent law encourages inventors to file for patents early in the innovation process. (6) At this stage, especially for modem technologies, an invention is usually not in the form of a finished product ready for sale, and its commercial success is highly uncertain. (7) Instead, the inventor must undertake costly and risky development and testing to transform the invention into a commercially viable product. (8) This uncertainty encourages inventors to delay commercialization in the hopes of reducing risk--for example, by taking advantage of emerging complementary technologies that may lower production costs more than any forgone profits. (9) Indeed, many of the twentieth century's greatest inventions, including the television, radio, radar, and penicillin, were not commercialized until decades after they were invented. (l0) In some instances, the uncertainty is so great that the commercialization of a worthwhile invention never occurs. (11)

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