1. OUR MORE-THAN-TWENTY-YEAR PATENT TERM.
- Author
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Lemley, Mark A. and Reinecke, Jason
- Subjects
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PATENT suits , *ACTIONS & defenses (Law) , *PROSECUTION , *INDUSTRIAL property - Abstract
We study all of the nearly 4.5 million patents, filed on or after May 29, 2000, that were issued by the United States Patent and Trademark Office since 2005. We find that most patents (63.6%) get at least some “patent term adjustment” (PTA)—an additional patent term to compensate for delays in patent prosecution. The patents that get PTA get more than a year on average (411 days, a median of 290 days), and more than 25% of all patents have more than a year of extra term. Some get as much as ten years of extra term. Despite its imperfections, the PTA system works pretty well at achieving the goal of compensating patentees for patent prosecution delay. But we would be better off with a world in which delay wasn’t nearly as common as it is, because adding a year at the end of a patent’s life is not the same as having an extra year at the beginning. And the PTA system ends up disproportionately being used by patent trolls in litigation, a result that seems socially unproductive. We offer some suggestions for how to reduce delay and describe the more efficient PTA that could potentially result. [ABSTRACT FROM AUTHOR]
- Published
- 2024
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