Hello DaveM
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Originally Posted by DaveM  A new product is much more valuable to society. |
Im sorry, compared to what?
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Originally Posted by DaveM Without patents technology would be much less advance than it is now. |
I seriously doubt that. Going all the way back to the steam engine - this is from a book i recently picked up reading, "Against intellectual monopoly" - James Watt, in the early days around 1768, were busy securing patents, not developing and producing steam engines which he had invented. From that period of time, he and his buisness partner Mathew Boulton spent most of their time combating rivals through the legal system, compared to the time that could be spent in investing and creating steam engines. It wasnt untill the early 1800s when their patents ran out that, first of all James Watt was able to improve his own invention, because another patent ran out, but also other competitors were able to freely create and distribute their steam engines. However, the competition was more focused on price than quality as opposed to Watt and Boulton, which meant THEY had increasing orders still, a good buisness.
There is the story of Jonathan Hornblower who had a superior engine early on, but was bankrupted through the legal system by Watt and Boulton.
Had patents never existed the steam age could have taken place almost half a generation earlier.
Today, buisnesses and inventors have only become better acquainted with the system, the laws more intrusive, which leads to further stiflement of economic advancement.