Most patents are drag on the innovation
Posted Feb 7, 2012 0:22 UTC (Tue) by khim
In reply to: Patents are a form of regulation
Parent article: Mueller: Apple's iterative approach to FRAND abuse is not for the faint of heart
Actually most patents fail to promote the Progress of Science and useful Arts. The only kind of patents which actually make sense are pharmaceutical patents - and this is because there are yet another government-regulated institution: drug certification. Companies spent hundreds of millions (and sometimes billions) to get certificate - and without patent there will be no way to recoup these costs.
Few will argue that unregulated sales of just-invented drugs will be beneficial to society and that means that pharmaceutical patents make sense (even there it's not clear if it's the best way to solve certification issue, but at least it's clear where money you need to later recoup with patent license go to). All other patents just help incumbents in fight with newcomers. More information in a book.
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