Once Again: Patents Do Not Equal Innovation
from the lazy-press dept
It’s always disappointing to see reporters who know better assume that patents are somehow a reasonable proxy for innovation. It’s pretty common, even though research has shown (many times over) that the two are not linked. Yet, that hasn’t stopped Business Week from fretting about the US losing its lead in patents, suggesting that it’s a sign of innovation moving elsewhere. Of course, it appears the source for the story is also Ocean Tomo — the same company that fooled a reporter into believing that patent sales would increase during the recession, just weeks before Ocean Tomo’s own patent auction was a disaster.
The real reason for the decline in patenting may actually be buried at the bottom of the article: companies are realizing that patents aren’t particularly cost effective, and they’re cutting back, focusing on actual innovation rather than throwing money away on the patent system.