Save the Patent System

New York Times recognizes the severe corruption and abuses that the US patent system inflicts. They say that the US patent system actually inhibits real inventions, allows patent trolls to rob real inventors, and has been corrupted to enrich lawyers. Their solution is to reform it….

But the real problem is the fundamental concept that an idea should be owned by a person or corporation. In business, an extremely famous truism is that “Ideas are nothing, execution is everything.” Eliminating the patent system would open up the US economy to massive and rapid improvements. Think of the super fast breakthroughs and speed of inventions early in industries like aerospace when thousands of companies and inventors were putting out new products each day. Now, Boeing is the sole company left because it owns enough patents to prevent any new business from building airplanes. It’s a horrifying state of affairs that enriches fat cats who have never invented anything, and the attorneys who serve them.

Abolish the patent system!