Legal Abuses: Patent Law

“An estimated 30% of patents are for things that already exist.”

“Intellectual Property” law has exploded into what is probably the fastest growing and most lucrative “industry” in the last couple of decades.

The three areas covered include

• trademark
• copyright, and
• patent law.

None of these things occurs naturally; all IP law stems from privileges granted by government. Without the might of the government laying in back of Intellectual Property law, it wouldn’t exist.

Although the stated justification for the government’s action to artificially limit the rights of the public in order to grant privilege of holding Intellectual Property rights is to promote innovation, the reality is that the reverse is true.

The Frugal Dad has some thoughts on this:

Source: http://frugaldad.com

Um.  And this encourages innovation how?