Saturday 31 March 2012

Problems with patent protection

Ross Gittins, in It's patently obvious that the system is broken, takes a looks at the issue of intellectual property. He finishes by noting that:
It's got so bad in the US that, according to the calculations of a leading campaigner for patent reform, James Bessen, of Boston University school of law, for all US patents bar those for chemicals and pharmaceuticals, earnings from their patents are more than exceeded by the cost of litigation to protect those patents. He calls this a ''patent tax''.

If he's right, the intellectual property system has degenerated to the point where it's actually inhibiting innovation. We're being forced to pay higher prices, but getting nothing in return.

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