Patent Litigation Cost US Business About A Trillion Dollars In A Quarter Century, Outweighing Benefits
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Techdirt recently wrote about the ever-growing flood of patents being granted by the USPTO. As we've emphasized, more patents do not mean more innovation; nor do they necessarily lead to greater overall benefits for business. That's clear in an important new paper from a team including James Bessen, whose work has been mentioned here several times before. It builds on the approach described in the 2008 book "Patent Failure" by James Bessen and Michael Meurer, and seeks to estimate both the private costs and private benefits accruing from patents in the US during the years 1984 to 2009. Here's how the costs are obtained:
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