Frankly, let's just ding the whole patent system and kill the trolls.
There's so much wrong with this, I don't even know where to start.
Have you even given this any thought? Think about what this would do to our economy, our technological advancements... there would be no motivation to innovate.
Example.
Big pharma. You spend a billion to research and bring a drug to market; this includes phase I,II,III (lol, lets just say they DO do III). You obviously patent said product as soon as you start the FDA trials, this is so your product isn't leaked to a competitor, counter-patent, etc. Then your patent takes effect before your drug is approved, and by the time it finally is approved, you get about 13 years of exclusivity on it, before the generics companies dive in by copying your material.
Now let's look at this without patents. You spend a billion on researching a new drug. You keep in hush-hush, but then bring it to the FDA for clinical studies. Someone at the FDA leaks your drug info, specifics, formulations, etc, to a rival. No, scratch that, we won't be THAT pessimistic. Say you make it through the clinical trials without anyone discovering your drug (unlikely). Your drug comes to market, competitors take said drug, see structure, deduce a process through reverse synthesis, and viola, they have the same drug. They didn't spend a billion finding it though, they spent a fraction of that, as all generics companies do, simply by taking your working product, and bypassing all the false leads you had to go through to get there.
Thus the company that spent billion(s) on the drug now only has a limited window of exclusivity; that is, until rivals can get it to market. If they keep the same everything, however, the FDA studies are already done...
Where's the point in investing that billion for a new drug then?
Cue the end of innovation.
I'll agree, the patent system is broken, and needs fixing in certain areas, but abolishing it entirely isn't the answer.