The Supreme Court will be hearing arguments today in favor of strict software patent laws, but the court may not be prepared to pass any ruling in their favor just yet. There are large corporations that feel their software and proprietary knowledge should be protected by patents and other special laws. Some opponents to these patents fear that the large corporations will generate a large number of patents to thwart competition, but just sit on them to prevent opposition from gaining power. On the contrary, there are many companies big and small that sit on patents with no intent on ever using them. The Supreme Court may have the foresight in this matter to understand the potential implications on future business if patent laws become too regulated in the technology industry.
Supreme Court Decides The Future For Software Patents
In recent months there have been some major corporate acquisitions in the technology field as companies like Google and Facebook have been purchasing either robotics or software companies and assimilating them into their own business. Billions of dollars are being spent in major acquisitions of other firms to obtain their software and other services. On the other hand, there is a lucrative business out there currently where software developers with create a program and then file for a patent on it. Once that patent is issued, they will simply sit on the patent and watch the market to wait for a company who unknowingly infringes on their legal patent.
These patent hoarders, or trolls as some call them, exist solely for the purpose of profiting from the legal battles they plan to put viable companies through for infringing on their legally obtained patent. With the US Patent office giving out so many patents in the software field, it was only a matter of time before someone stepped in and needed to add regulation to it. Some of the large companies are hoping that The Supreme Court can add some type of legal matter which would prevent someone from obtaining a software patent if they are not able to produce a product with it. In essence this would mean that you would only be allowed to sit on a software patent for a period of time unless you produce something from it. Hoarders beware, as the future of your enterprise may very well be in jeopardy.
Featured image of the Supreme Court building from Wikipedia.
Supreme Court Decides The Future For Software Patents.