Patent Reform and the President-Elect: A Closer Look

In our pre-election issue of Wealth of Ideas (November 2008), we compared the technology platforms of both John McCain and Barack Obama with regard to their ideas on patent reform and patent protection - both here in the US and around the world. Now that Obama has emerged victorious and his cabinet is almost completely filled, what more do we know about his plans for patent reform?

Excerpt from "The Patent Profiteers" by Steven M. Cherry, IEEE Spectrum, June 2004 issue

Perhaps the oldest and most successful of these [patent enforcement companies] is General Patent Corp., Suffern, N.Y. Founder and president Alexander Poltorak says his 15-year-old "full service intellectual property management company" analyzes patents and assesses their value.

A patent's value, Poltorak explains, is its ability to bulwark legal claims leveled against companies that are making money with a product or service that might be infringing. Like Acacia [Technologies Group], General Patent then negotiates licenses, or, if necessary, initiates lawsuits.

Trying to Cash In on Patents

The New York Times, June 10, 2002

ROYALTIES from inventions now earn an estimated $150 billion globally a year. With that amount expected to climb 30 percent annually for the next five years, it is little wonder that a number of patent licensing boutiques have sprung up to cash in on the action.