Essay: Reconceiving patents in the age of venture capital

Name: Essay: Reconceiving patents in the age of venture capital
Cite: 4 Small & Emerging Bus. L. 137
Year: 2000
Bluebook cite: Mark A. Lemley, Essay: Reconceiving Patents In The Age Of Venture Capital, 4 Small & Emerging Bus. L. 137 (Spring 2000)
Author: Mark A. Lemley
URL: 4 JSEBL 137
Item Type: article
Summary: The past decade has seen unprecedented growth in patent issuance and litigation. In the midst of great changes in the ways technology is financed, the author questions the classical model of patent incentive, which justifies patents on the basis of the encouragement they offer to engage in research and development. Prof. Lemley sees a need for additional research into the real causes of innovation and offers starting points for this type of study. Patents are being used in a number of innovative ways, such as cross-licensing, as well as functioning as financing tools. Prof. Lemley argues that these uses should become the new focus of academic patent research, rather than the atypical enforcement of patents through litigation. Prof. Lemley also suggests exploring patent law policy changes more in line with the new uses of patents, among them methods of limiting patent litigation, accelerating the patenting process, and encouraging informal patent use.

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