Are
current patent policies slowing innovation and infringing on economic liberties?
Derek Khanna, a tech policy and intellectual property expert, says
yes.
"A patent is a government-granted monopoly" that gives the owner
sole right to profit from making or licensing a product, Khanna explains. "So
effectively every week the government says, 'These are all the things that
American citizens can't do for about the next 20 years.'"
Khanna's new
paper, How to Fix Patents: Economic Liberty Requires Patent Reform, argues that
patent policy and its abuse is failing to achieve its constitutionally enshrined
purpose of "promoting the progress of the sciences and useful arts." This
failure, he laments, has led to more monopolies and crony capitalism—the very
opposite of the free-enterprise system the founders sought to protect.
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