Innovation or Monopoly? Making Patents Work

Author

Wayne Brough

Policy Director, Technology and Innovation

Press Release

Making Patents Work

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Executive Summary

Patents have been a topic of debate for as long as they have existed. While the market exclusivity provided by a patent creates incentives for inventors, legitimate concerns exist about the potential for patents to become a tool for collecting monopoly rents. Finding the correct balance between monopoly and innovation can be challenging; patent reform should focus on improving the quality of patents as well as improving the ability to remove low-quality patents from the system. This reduces the possibility of patent abuse while ensuring that patents reward real innovation.