There is a happy balance to be had here. Patents as they exist today is often hindering innovation rather than promoting it. E.g. 3D printing really took off when 3D printing patents started expiring. The industry was stuck while patents where enforceable.
In many industries patents are an innovation blocker. Companies often spend more money fighting patents trolls than they gain form having patents. Patens are increasingly acquired for defensive purpose to defend against patent troll attacks rather than actually protecting any innovation.
I am not against intellectual property protection, but I think how things have developed in the US in particular is excessive and counterproductive.
Exactly. Like solar panels. It existed for decades, and languished in the labs, behind patent protections, until the patents expired. Then China came onto the scene, and innovated in mass production techniques to make it cheaper.
And now, solar energy just crossed a milestone, at 4 cents per kilowatt hour, making it competitive with other energy sectors.
In many industries patents are an innovation blocker. Companies often spend more money fighting patents trolls than they gain form having patents. Patens are increasingly acquired for defensive purpose to defend against patent troll attacks rather than actually protecting any innovation.
I am not against intellectual property protection, but I think how things have developed in the US in particular is excessive and counterproductive.