Someone please tell me I'm misunderstanding this.
Someone please tell me I'm misunderstanding this.
The original idea of patents was along the lines: Person A develops a self propelled buggy moving with the speed faster than light. Without patent protection, there is a lot of incentive to keep the details of the technology secret. The patent protection would be awarded in exchange of him disclosing the details of the technology, thus enriching the human race's body of knowledge and furthering the technology advancement.
Modern day patent system - a Corporation A files a patent for the idea of a "self propelled buggy moving with the speed faster than light." Whoever comes with real implementation later, would be forced to pay license fee to the corporation or wouldn't be able to bring it to market. This is pretty much the innovation tax (though if a tax isn't extorted by a government then it is more correctly called extortion/racket).
In practice, this rule is effective only to the extent that the Patent Office enforces it.
From wikipedia: "In a first-to-file system, also called "first inventor to file" system, the right to the grant of a patent for a given invention lies with the first person (the first inventor(s)) to file a patent application for protection of that invention, regardless of the date of actual invention."