Week 12 - Post #2

For this post, I want to discuss the macroeconomic forces that are changing and shaping the patent marketplace. Efrat was great in breaking this down into four key forces that are key to the marketplace's survival:

I actually found this model that Efrat built very similar to the ones that I see in my business courses when evaluating the strength or weaknesses of a marketplace. Given the rapidly changing technology landscape, we need to analyze the external forces affecting the patent marketplace. 

1. IP Litigation at an all time high - this is mainly due to the fact that patent trolls have been proliferating and growing for years now, reaching all time highs. They have been suing large corporations, and have therefore brought light to the justice system of this horrifying trend that has affected our intellectual property ecosystem. I have therefore listed this trend and force on the marketplace as a THREAT.
2. Very active patent transaction market - we can see from this course how active this market, which just shows that innovation and the need to file these patent to protect intellectual property has been increasing. Overall, this is a good thing for the ecosystem. I have listed this trend as an OPPORTUNITY.
3. USPTO Overloaded/Underfunded - as many other departments in the government are underfunded, it is not a surprise to see this statistic in this model. With the recent government shutdown and an impasse between the two parties, I can really only see this trend become even more pronounced as government departments are stripped to their bare minimum to save money through the next few months. Unfortunately, this really increases the time it takes to not only file a patent, but also to process and certify it too. Again, this is only going to slow innovation in the US, and I have therefore listed this trend as a THREAT.
4. Global competition - globalization is something that has been a trend for the past few decades. Although it has to led to increased competition, overall, the trend has been one to push companies to continue to innovate and ensure they are continue to be on top of their game, as they see competition not just from within their own borders but outside their borders too. I have therefore listed this an an OPPORTUNITY.