The history of technology is one of accelerating change. Today, technological development happens at breakneck speed, and bureaucratic systems must struggle to keep up. The U.S. patent system is a prime example of this struggle, which has prompted many leaders in the high-tech and business communities to proclaim that patents are no longer relevant, not worth the bother or even “evil.” This attitude is driven by the perception that technology moves so quickly that it will be obsolete by the time a patent issues.
This assessment rings somewhat true when patents are viewed as pawns in a patent arms race, which only a small minority of very large companies can afford to engage in today. It may also seem somewhat valid if patents are viewed as long term investments that are scrutinized at filing but then placed on autopilot until they are either needed in litigation or expire 20 years later. These strategies may make sense if you have 20,000+ patents in your portfolio and are a dominant player in the market, but in nearly all other cases, the patents in such portfolios are not going to provide much value. Filing patents just for the sake of having patents is an expensive and outdated strategy.
