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Time to eliminate patents altogether? Fed paper urges more open innovation

October 1, 2012

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http://www.smartplanet.com/blog/bulletin/time-to-eliminate-patents-altogether-fed-paper-urges-more-open-innovation/1324?tag=nl.e660&s_cid=e660

The patent system, intended to legally protect innovation and intellectual property, is essentially useless, rife with abuse and trolls, and should be disbanded. In spite of the enormous increase in the number of patents and in the strength of their legal protection, they have not accelerated R&D investments or technological progress.

Link to the paper they’re referring to:

http://research.stlouisfed.org/wp/2012/2012-035.pdf

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