Reality Check: Patents Foster Innovation and Economic Activity
The trouble is the so-called “patent reform” would cripple small businesses that innovate and need patents, while at the same time not offering any relief whatsoever to those small businesses that are being targeted by the bad actors… The inconvenient truth is that there is no evidence that a weaker patent system fosters innovation, but there is overwhelming evidence that a strong patent system does foster innovation, leads to growth, investment from abroad and a more prosperous economy. Indeed, weak patent rights virtually guarantee innovation simply won’t happen. We know that because where there are weak patent rights, there is no innovation, and there is no economic activity. Indeed, if a weak patent system were the answer you would expect countries that have a weak patent system, or no patent system at all, to have run away innovation. What you see, however, is the exact opposite. This fact alone rather conclusively demonstrates that those who assert that patents stifle innovation are simply wrong.