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Are patents worth it? The NY Times article furore.

The recent article – ‘A Patent Is Worth Having, Right? Well, Maybe Not‘ (New York Times) has created a furore in the IP world.

It reports the findings of two Economics / Law professors (James Bessen and Michael J. Meurer) into the economics of patents. In essence, they estimate:

The professors make an exception for pharmaceuticals, where they concede that patents are worthwhile.

Some thoughts on this:

We’re all certainly looking forward to the day when the professors reveal their data and analysis so that people can objectively assess it.  (Most interesting will be the definition of ‘profit’.)

The furore:

The professor’s materials:

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