Last year, for the first time, spending by Apple and Google on patent lawsuits and unusually big-dollar patent purchases exceeded spending on research and development of new products, according to public filings.
We are approaching an innovation paralysis where it is more profitable to kill (or get a license fee from) competitor’s products rather than invent something truly new.
I do believe that one needs to protect their IP, however it should be for something which presents a breakthrough to the mankind, a real invention in its classic sense.
What everyone needs to realise is that someone out there will do it to them one day, and it might happen quite soon. Attraction to short-term gains should surrender to the focus on long-term prosperity and sustainability, and this will undoubtedly come from someone who is able to innovate better and faster. And I honestly believe that if does not come from the big guys of today, it will come from the big guys of the future. And they aren’t necessarily going to be the same guys.
Source: The New York Times