"It would be hugely lopsided in favor entities with lots of money"
Much less so then the current system. Much of the uncertainty and potential liability for small businesses would disappear. Unless your small business is a patent troll but then that's a feature not a bug.
"the value of your invention to you (but not to potential infringers) is bounded by your cash on hand."
This is both false (you are bounded by the cash on hand and the value of things you can use as collateral for loans or equity) and no different then the current case where you are bounded in the number of lawyer hours you can afford.
If I find an enormous diamond that is worth $20 million dollars but it costs more to have it properly appraised and marketed then I have cash on hand, trust me I will raise that money and sell it near full market price. I may not get 100% of the proceeds but you'll have a hard time convincing me that the apprisal system is incredibly biased against people that find diamonds.
Much less so then the current system. Much of the uncertainty and potential liability for small businesses would disappear. Unless your small business is a patent troll but then that's a feature not a bug.
"the value of your invention to you (but not to potential infringers) is bounded by your cash on hand."
This is both false (you are bounded by the cash on hand and the value of things you can use as collateral for loans or equity) and no different then the current case where you are bounded in the number of lawyer hours you can afford.
If I find an enormous diamond that is worth $20 million dollars but it costs more to have it properly appraised and marketed then I have cash on hand, trust me I will raise that money and sell it near full market price. I may not get 100% of the proceeds but you'll have a hard time convincing me that the apprisal system is incredibly biased against people that find diamonds.