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Market of Ideas Research Notes (view source)
Revision as of 13:39, 21 September 2020
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{{Project
|Has project output=Content
|Has sponsor=McNair Center
|Has title=Market of Ideas Research Notes
|Has owner=Avesh Krishna,
|Has project status=Tabled
}}
[[Image:PatentCartoon.jpg | thumb | 550px]]
==Outline==
The Next Engine of U.S. GPD Growth: The Market for Ideas:
Outline
[[Image:PatentGrantsApplicationsLitigation.png | thumb | 550px]]
#Intro
#US GDP & Growth rate
#Startup World vs Patent World
##In the world of startups accelerators, incubators, VC firms, unicorns, and ecosystems are all recognized terms and types of organizations. Lesser known though in the world of Intellectual Property which has it’s own players like trolls, brokers, aggregators, pools, etc etc
#Patent Application and Renewals
##number of patents granted/applied
##number renenwed
##renewal rates
#Value of a Patent
##Cost of prosecuting a patent application 20,000 to 50,000
##Patent value accounts for ¾ of the sale price of high tech products
##Average value in millions: .5, 1, 1.8, 3.8, 18 per patent
##Extreme skewness
##Mean value 577,000 in griliches, median was 25,000
#Patent Licensing
##University Licensing
###How much universities make
###number of licenses
###number of patents issued
##Corporate Licensing
###How much corporations make
#Patent Brokers
##Biggest Brokers
##Define
##Who they represent, who uses them
#Patent Trolls (NPEs)
##Who are they: buy up patents and exert them in bad faith
##Approximate numbers
##Litigation
#Patent Litigation
##Lawsuits per year
##America Invents Act
##IPR
#USPTO
##Budget
##Funding
##Has to petition to keep revenue, sec 22 of AIA lets these revenues be diverted to a reserve fund for use during Government shutdown
##Time spent on each patent
##Between 1/3 and ½ of litigated patents are found to be invalid
##Funding the USPTO will lead to better patents
#Federal Agencies doing Basic Research
##Budgets
###[[#Agencies Conducting Basic Research|Research Budgets]]
##What they do
##number of Patents
#Who else does Research (corporate & academic)
#Economic Value from Trading in Patents
##Estimating the Gains from Trade in the Market for Innovation: Evidence from the Transfer of Patents,” NBER Working Paper 17304 (Aug. 2011)
==Patent Players==
===Patent Broker===
===Non Practicing Entity (Troll)===
===Patent Pool===
===Patent Aggregator===
====Defensive Patent Aggregator====
Purchases patents for defensive purposes, thereby keeping patents from being purchased from entities that will assert them against companies utilizing the technologies. Members of the aggregator pay a licensing fee so those patents cannot be asserted against them.
Major Defensive Aggregators:
*RPX
*Unified Patents
*Allied Security Trust
===Innovator===
===Implementer===
== Patent Applications & Renewals ==
In 2015 there were 629,647 patent applications. Assuming history is anything to go by, around 80% will be eventually granted. Patents are valid for 20 years from application, providing renewal fees are paid at 3½, 7½, and 11½ years. Scotchmer (1999) reports that half of all patents are not renewed past 10 years. It currently takes the patent office more than 2 years, down from more than 3 years before the America Invents Act, to process a patent application. Applicants can request that undue processing time be added back to their patent terms. There are other factors, like terminal disclaimers and being found invalid or unenforceable by courts, which affect patent terms. A conservative estimate of mean patent term is 10 years from application. We will therefore use the 2.5m patents granted from 2006 to 2015 as a proxy for the number of active patents.
*“no more than 50% of patents are renewed past 10 years” (Scotchmer 1999)
:: ```'''Scotchmer, S. (1999). On the optimality of the patent renewal system. The RAND Journal of Economics, pp. 181-96.``` ''' [http://www.jstor.org/stable/2556076?seq=1#page_scan_tab_contents Link]
*“less than forty percent of patentees pay all three maintenance fees"
:::Frederic M. Scherer Harvard University
===Patent Monetization===
*[https://www.bloomberg.com/professional/blog/monetizing-patents-trends-in-royalties-and-licensing/ Monetizing Patents Trends in Royalties and Licensing]
::
Griliches, Z. (1998). Patent statistics as economic indicators: a survey.
==USPTO==
===Patent Quality===
Michael D. Frakes & Mellissa F. Wasserman, Is the Time Allocated to Review Patent Applications Inducing Examiners to Grant Invalid Patents?: Evidence from Micro-Level Application, NBER Working Paper No. 20337 (July 2014) [http://www.nber.org/papers/w20337]
*"on average, an examiner spends only nineteen hours reviewing an application, including reading the patent application, searching for prior art, comparing the prior art with the patent application, writing a rejection, responding to the patent applicant’s arguments, and often conducting an interview with the applicant’s attorney"
==Agencies Conducting Basic Research==
Historical Trends in Federal R & D [https://www.aaas.org/page/historical-trends-federal-rd]
{| class="wikitable sortable"
! Agency !! R&D Budget in Millions
|-
| DOD || 67,194
|-
| NASA || 11,594
|-
| DOE || 14,612
|-
| HHS || 30,655
|-
| NIH || 29,205
|-
| NSF || 6,085
|-
| USDA || 2,493
|-
| Interior || 878
|-
| DOT || 901
|-
| EPA || 529
|-
| DOC || 1,551
|-
| DHS || 934
|-
| VA || 1,197
|-
| Other || 1,515
|}
===Patents to US Government from 1991 to 2015===
From [https://www.uspto.gov/web/offices/ac/ido/oeip/taf/reports.htm General Patent Statistics Reports]
*of the 2420865 granted patents of US origin, 24382 went to the US government and 2062320 to US corporations
==Patent Brokers==
List of Brokers [http://www.richardsonoliver.com/brokers/]
== Patent Litigation ==
{| class="wikitable sortable"
(Data from LexMachina and USPTO)
==USPTO Data on Grants and Applications==
[[UPTO Grants and Applications Table]]
Sourced from [http://www.uspto.gov/web/offices/ac/ido/oeip/taf/us_stat.htm USPTO Table]
Spreadsheet with Graphs available at: E:\McNair\Projects\Market for Ideas
==Innovation Bills==
===Bills Relevant to Innovation===
Below is a table containing brief overviews of the bills pertaining to innovation that have been passed or introduced by the 114th Congress.
{| class="wikitable"
|-
! Bill
! Prognosis
! Sponsor
!Full Title
!Date Introduced
!Status
|-
|[[S. 1890: Defend Trade Secrets Act of 2016]] [https://www.govtrack.us/congress/bills/114/s1890]
|Enacted
|Orrin Hatch (R-Utah)
|A bill to amend chapter 90 of title 18, United States Code, to provide Federal jurisdiction for the theft of trade secrets, and for other purposes.
|JUL 29, 2015
|Enacted — Signed by the President on May 11, 2016
|-
|[[H.R. 9: Innovation Act]] [https://www.govtrack.us/congress/bills/114/hr9]
|36%
| Bob Goodlatte (R-Virginia)
| To amend title 35, United States Code, and the Leahy-Smith America Invents Act to make improvements and technical corrections, and for other purposes.
|Feb 5, 2015
|Reported by Committee on Jun 11, 2015
|-
|[[S. 1137: PATENT Act]] [https://www.govtrack.us/congress/bills/114/s1137]
|36%
| Charles “Chuck” Grassley (D-Iowa)
|A bill to amend title 35, United States Code, and the Leahy-Smith America Invents Act to make improvements and technical corrections, and for other purposes.
|Apr 29, 2015
|Reported by Committee on Jun 4, 2015
|-
|[[H.R. 2045: Targeting Rogue and Opaque Letters Act of 2015]] [https://www.govtrack.us/congress/bills/114/hr2045]
|24%
| Michael Burgess (R-Texas)
|To provide that certain bad faith communications in connection with the assertion of a United States patent are unfair or deceptive acts or practices, and for other purposes.
|Apr 28, 2015
|Reported by Committee on Apr 29, 2015
|-
|[[H.R. 1832: Innovation Protection Act]] [https://www.govtrack.us/congress/bills/114/hr1832]
|5%
| John Conyers Jr. (D-Michigan)
|To provide for the permanent funding of the United States Patent and Trademark Office, and for other purposes.
|Apr 16, 2015
|Referred to Committee on Apr 16, 2015
|-
|[[S. 632: STRONG Patents Act of 2015]] [https://www.govtrack.us/congress/bills/114/s632]
|4%
| Chris Coons (D-Delaware)
|A bill to strengthen the position of the United States as the world's leading innovator by amending title 35, United States Code, to protect the property rights of the inventors that grow the country's economy.
|Mar 3, 2015
|Referred to Committee on Mar 3, 2015
|-
|[[S. 926: Grace Period Restoration Act of 2015]] [https://www.govtrack.us/congress/bills/114/s926]
|4%
| Tammy Baldwin (D-Wisconsin)
|A bill to amend the patent law to promote basic research, to stimulate publication of scientific documents, to encourage collaboration in scientific endeavors, to improve the transfer of technology to the private sector, and for other purposes.
|Apr 14, 2015
|Referred to Committee on Apr 14, 2015
|-
|[[H.R. 2370: End Anonymous Patents Act]] [https://www.govtrack.us/congress/bills/114/hr2370]
|0%
| Theodore Deutch (D-Florida)
|To amend title 35, United States Code, to require disclosure of ownership and transfers of ownership of patents, and for other purposes.
|May 15, 2015
|Referred to Committee on May 15, 2015
|-
|[[H.R. 1896: Demand Letter Transparency Act of 2015]] [https://www.govtrack.us/congress/bills/114/hr1896]
|0%
| Jared Polis (D-Colorado)
|To amend chapter 26 of title 35, United States Code, to require the disclosure of information related to patent ownership, and for other purposes.
|Apr 20, 2015
|Referred to Committee on Apr 20, 2015
|}
==Deliverable Ideas==
===Patent Quality===
[[Methods of Assessing Patent Quality]]
