Greg Ip

Articles by The Economist’s U.S. Economics Editor

Patent reform: The spluttering invention machine

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America’s patent system has problems; a new law would fix only a few

[Greg Ip] Mar 17th 2011 | WASHINGTON, DC | from the print edition

FOR all America’s anxieties about its decline as a superpower, its deficits and its weak economy, it can still be proud of its strength as an innovator. Americans make four times as many patent applications per head as Europeans. Patents spur innovation and lay the foundations for future growth, by assuring inventors that they will reap the rewards of their effort and by publicising their discoveries.

But worries have grown that excessive patenting may now be having the opposite effect: businesses and other researchers may be discouraged from innovating in areas that depend heavily on prior discoveries, for fear of being sued for patent infringement. Besides making it too easy to bring patent lawsuits, it is argued, America hands out patents too readily: an often-quoted example is the one granted to Amazon for its “one-click” online-shopping button. Last year the Supreme Court restricted the scope of such business-process patents, but not by enough to satisfy critics.

The original article is linked here.

 

 

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Written by gregip

March 17, 2011 at 3:06 pm

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