The rising speculation in intangible assets by patent trolls may indicate that patents are ready to evolve to the next level. Just as air space rights and carbon emissions before them, patents could be traded on stock exchanges. This evolution could take the form of a Patent Investment Trust, modeled on the popular Real Estate Investment Trust (“REIT”). By authorizing a Patent Investment Trust (“PIT”), the United States Congress could help create a public market based on patents and patent licensing, harnessing market power to provide capital for inventors and stabilizing speculation through more accurate patent prices and licensing fees.

Cite as 6 N.C. J.L. & Tech. 367 (2005) | Download PDF