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By the way, just like the case with monopoly, freedom and free markets, your apparent use of the term patent troll is so broad as to not have any meaning. So tell us Tim, how do you define patent troll.
[Tangentially, if anyone wants to write a greasemonkey plugin that just removes Noel's comments, I'd be perfectly OK with that.]
True, the technologies required to make it practical were a few years away yet, but then the patent doesn't describe any of those enabling technologies. For example, we're told that "Communications between the computer systems are best accomplished using industry standards such as American National Standard Institute (ANSI) X24." It's surely obvious that implementing an online catalog is best done using industry-standard networking protocols, is it not?
BTW, the "patent premium," how much increased patenting spurs additional R&D; investment, is lower in the software industry than in others (pharma, semiconductor, etc). Thats why some patent policy researchers, including me, like to see the novelty-obviousness standards raised and the scope of patents narrowed through more detailed claim construction. Theoretically, this should result in fewer patents, but ones of higher quality.
The discussion here on how to treat a patent that turns out to be obvious due to natural technological progress and maturity is an interesting one. I'd say courts should consider the level of obviousness with respect to existing societal knowledge; unless the patent holder somehow contributed to that knowledge they shouldn't be able to lay full claim to infringement. I have to think this through more, but such an "existing knowledge" standard is not quite the same as an independent invention proposal.