Graduation Year

Spring 2012

Document Type

Campus Only Senior Thesis

Degree Name

Bachelor of Arts

Department

Economics-Accounting

Reader 1

Matthew Magilke

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© 2012 Victor Chien

Abstract

Patent laws state that upon infringement, patentees are entitled to "damages adequate to compensate for the infringement but in no event less than a reasonable royalty." The key issue that plagues patent laws is that the current damage statute is too vague and provides little guidance to the United States court system in the determination of proper patent damages. A growing concern is that patent infringement awards are drifting away from its compensatory nature, and that damage awards are often excessive or inconsistently applied. Reformation is necessary to incorporate provisions in patent law that will establish a cohesive framework in the accounting for infringement damages.

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