Patents benefit the economy – trolling is wrong.
Foroohar 10-16-2017. [Rana, Global business columnist & associate editor, Financial Times, Global economic analyst, CNN; “Big Tech vs Big Pharma: the battle over US patent protection,” The Financial Times, https://www.ft.com/content/6c5b2cca-ae8b-11e7-beba-5521c713abf4 //cpsw-ay]
There is little doubt that strong IP protection is linked to stronger economic growth. A recent paper from the National Bureau of Economic Research found that holding a patent (and being able to defend it) increases the probability of securing venture capital funding by 53 per cent, start-up job growth by 36 per cent and start-up sales by 51 per cent. Another paper, “Patents and the Wealth of Nations” by Stanford academic Stephen Haber, found that countries that protect patents enjoy stronger economic growth. His research also shows that the patent troll narrative, and the idea that litigious patent holders can “hold up” innovation for bigger groups, is inconsistent with the data.