$29 Billion Spent Dealing With Patent Trolls In The US Alone Last Year
from the for-what-benefit dept
Even more amazing is just how rapidly this cost has ballooned over the past few years. Check out this table from the report:
The report then goes further to try to figure out whether the trolls are actually benefiting innovation and getting more money to inventors, as the trolls and their supporters like to claim. Unfortunately, the research shows quite a different story -- with very little of the money actually flowing back to either inventors or actual innovation. In other words, we're talking about a pretty massive economic dead-weight loss here. Money flowing from actual innovators and creators... to lawyers, basically. Innovators grow the economy. Lawyers do not. This is a massive weight on the ability to grow the economy and to remain competitive. We've basically created a tax on innovation that flows to lawyers.