Trolls are clogging the courts

Accordingly, inflationary systems incentivize the speculative proliferation of low-quality patents, which clog the Patent Office and result in parasitic patent-trolling activity. Deflationary systems, by contrast, incentivize prudence in patenting decisions, focusing scarce monetary resources on protecting only high-value inventions and reducing the profitability of parasitic patent-trolling. Transitioning from our current inflationary system to a deflationary system based on bitcoin would thus likely heal many of the ailments with the patent system we see today.

IV. CONCLUSION

Many observers have criticized the patent system in recent years as being broken or counter to its own objectives. Patent trolls are a persistent problem for technology companies. Vast patent thickets amassed by the largest corporations can be used to drown out competition from smaller market entrants. And the Patent Office is so inundated with patent applications that it has difficulty keeping pace while assuring that only high-quality applications are issued as patents. The result is that many innovators feel threatened or taxed, rather than empowered, by the patent system.