domingo, fevereiro 03, 2013

The Patent Bubble

The Patent Bubble and Its End:
.. what is being exchanged in the patent market? It’s not real goods or services. These are government creations of a bureaucracy — an exclusive right to make something. They are tickets that make production legal. If you own one, there is no broad market for it. It has only a handful of possible buyers, and the price your good is based entirely on how much money you think you can extract from deep pockets. Sometimes, you actually force people to buy with the threat that you will sue if they don’t.
Today the entire fake market for patents is sustained by the perception that courts will favor the patent holders over the victims. The Newegg case changes that perception, which is why it has been the most closely watched case in the industry. This might signal the end of the reign of terror, at least one form of it.
In other words, patents these days have little to nothing to do with the creators — any more than mortgage-backed securities at the height of the boom had anything to do with the initial lender and its risk assessments. Once a patent is issued — and they are not automatically valid, but rather have to be tested in litigation — it enters into the market and can land anywhere. The idea that the patent has anything to do with inspiring innovation is total myth. It is all about establishing and protecting monopolistic weapons with which to beat people.

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