Local Tech Wire

The debate about patents, their importance to entrepreneurs and the hindrances created by intellectual property protection will never end. In fact, it may be intensifying.

Venture capitalists Jason Mendleson and Brad Feld of Foundry Group and Paul Kedrosky at the Kauffman Foundation take on authors of a New York Times piece about whether granting of more patents would create more jobs.

“A patent myth is loose in the land about their importance to innovators and those that finance them,” they wrote in a piece for the Wall Street Journal and Venture Capital Dispatch. “In, fact, recently the New York Times published an op-ed titled “Inventing Our Way Out of Joblessness.” The authors, Paul R. Michel and Henry R. Nothhaft, argued that the best way to jump-start our moribund economy was for the United States Patent and Trademark Office to get through its backlog of patents. Their premise is that the more patents are granted, the more jobs will be created in the U.S. Unfortunately, their logic is flawed and biased.”

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