Thursday, September 15, 2011

Are patents stifling innovation?

This article brings up several interesting points on how patents may seem to hinder innovation given the increasing number of lawsuits based on patent dispute. While I agree that the ever-growing number of patents require new innovators to tiptoe the line between new innovations and already existent inventions, it is important to remember that not having one's idea protected would likewise prevent someone from spending the time and money to create a new innovation or invention. The author goes on to explain that true innovation shouldn't matter to existing patents because if the new innovation is covered by the patent then it really isn't a new innovation. I agree with this point as well, but the mention of "patent trolls" reminded me of our discussion in class on pharmaceutical companies and the social entrepreneur who made patented medications available to certain populations in third world countries. Certainly, in this instance, the entrepreneur needed the inventions and formulas of the pharmaceutical companies, and therefore was arguably not an innovator in his own right. However, his approach to providing medical help to poor populations was undoubtedly an innovative new means of distribution. While I agree that patents help protect innovators and their investments to their new ideas, I think it is also true that patents and copyright law may inhibit some social innovators and entrepreneurs that aim to find new ways to help society.

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