Auction patent extensions in blocks. First, you start with a free, though much shorter than present, initial period. After that, however, you must purchase the next extension at auction. At period2, there will be X2% as many extensions as there are expiring patents. At period3, you must buy another extension out of that tranche, which has X3% as many extensions as period2. And so on.
Extensions could be sold to any party before their "apply on" date, they are not specific to a particular patent until it has been attached to it. Once a patent passes its expiration date, it can never be recovered and is now public domain forever.
I think this would work best if the sum of the extensions was less than currently available. The basic idea is that a company who felt a patent really was central to their business could pay a potentially very hefty price for the privilege, so the number of extensions for sale should be kept quite small.
The only point I would see for this scheme is to make money for the patent office.
> The basic idea is that a company who felt a patent really was central to their business could pay a potentially very hefty price for the privilege, so the number of extensions for sale should be kept quite small.
It won't be. There's too much money to be made and too much lobbying involved.
Extensions could be sold to any party before their "apply on" date, they are not specific to a particular patent until it has been attached to it. Once a patent passes its expiration date, it can never be recovered and is now public domain forever.
I think this would work best if the sum of the extensions was less than currently available. The basic idea is that a company who felt a patent really was central to their business could pay a potentially very hefty price for the privilege, so the number of extensions for sale should be kept quite small.