Patents and Eminent Domain

mrbill writes "Interesting take on the Eminent Domain case now before the Supreme Court. Could the same logic behind using Eminent Domain to take real property be used to take a Patent? Apparently some states are contemplating taking drug company patents to force lower drug prices." From the article: "Patents are the key to huge drug-company profits. The industry will fight vociferously to protect them. In West Virginia, where the issue came up last summer, industry lawyers warned a legislative advisory council away from proposing such action on patents, claiming it would be unconstitutional. "

Comments

fair market value

[Anonymous Coward]

if a government did apply this to drug patents they would be required to pay fair market value for them which would be roughly equal to the rediculous profit the companies are gaining from their sale. This means that any difference in price would be made up in tax money.

Re:fair market value

[Max Threshold]

Not really. In eminent domain cases, the government conveniently determines the fair market value of the property, and it's seldom anywhere near its real value.

Besides, the drug companies' ridiculous profits represent the unfair market value, not the fair market value!

Re:local leftism is the way to save America?

[croddy]

I like this idea.

Because if I'm living in a state that's wasting my taxes on this broadband, healthcare, and other ridiculous shit, I can just move to Nevada.