In order to turn a patent in to a literal recipe for a competing product all you have to do is step out of a registered jurisdiction.
So people who actually come up with something meaningful have the financial burden of registering in numerous major jurisdictions at a minimum.
However, each comes with its own quirks, costs, and processes, some of which can be slower (eg. Japan) or qualitatively different (actual novelty checks performed vs. only cursory inspection) and thus vary from verging on legally dubious (more like "option to expend lawyers on creating problems for competitors in the future" than actual patent) to total lockdown.
It's a mess. Mostly it only keeps patent lawyers in business. We need to get rid of it.
When you have a registered patent in the USA and the EU, there is no real alternative market for competition except India and China - because both the US and EU will reject any import of a patent-violating product.
then you talk about each jurisdiction having very unique flavors & characters to them.
the favt that the uspto governs such a vast share of products-sold carries a lot of weight. I tend to think increasing the cost of patents is a silly idea, because right now they cost nearly nothing if you file & do the reject/re-apply dance yourself (and know how to). unless we the people are going to start charging billions for good ideas being monopolized, I tend towards a fair reasonable & non-discriminatory access model for all ideas, with a depreciating over time scale. i'd rather open the closed system than try to find the right price for it. but either way, I think the uspto & Congress has a lot of power to fix this practically free hand out that ongoingly locks down this world & obstructs progress time & time again.
To improve the predictive capability of the USPTO, they could host a bidding process in which other companies can participate.
Rather than trying to estimate the value of the idea we could drastically reduce the time for patent protection. Shortening protection period to 2-5 years should still encourage inventions, but would discourage early carpet-bombing filings (which scare many inventors away) as well as move successful inventions into public domain while they are still relevant. My 2c.
Estimating the value seems pretty much impossible, but estimating a length seems more reasonable. Clever software trick, quick to invent, easy to capitalise -> 2 years. Ground breaking new drug/material with slow market deployment -> 20 years.
There's still some subjectivity involved (but that's already the case with the current patent system), but you could try to base it on some objective metrics.
It would be easy to discriminate between 20 years for drugs vs. 5 for anything software, but I guess it's tricky to decide whether something like e-paper should count as fast-moving consumer-facing tech or hard-won physics/chemistry knowledge.
No method is perfect, but I think that in most cases a 5-year protection is enough to encourage invention.
In general, it is a business decision on whether to patent a technology that it is not ready for the production: the risk of not making a product in 5 years vs the risk of competitor getting there first. It is not perfect, but I would prefer that inventions that the owner wants to own (and suppress competition for) but cannot commercialize in 5 years enter public domain. My 2c.
https://slate.com/technology/2018/05/the-thousands-of-secret...
perhaps a fair value assessment might include some % of revenue or profit, to self adjust?