“‘Our preferred policy solution is to abolish patents entirely,’ Michele Boldrin and David K. Levine wrote in a recently published paper. That statement, of course, flies in the face of the conventional wisdom that patents foster innovation and improve productivity. Both truisms, they say, are wrong. In fact, patents have a ‘negative effect on innovation,’ they say. Obviously, this is awfully radical, but it’s worth noting that 18 months after the largest patent reform legislation in decades — the America Invents Act — was signed by President Barack Obama, patent litigation has continued to increase.”
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