Who will "repeal" the Patent Trolls $14 billion p.a. IPR tax ?

The US is going to make another attempt to reform its creaking patent legislation with the America Invents Act but will it actually address a situation where the $4 billion of patent revenues reported by US public corporations came at a cost of $14 billion in legal costs That figure omits the earnings of pharmaceutical companies but helps put the arguments into perspective. The topic is clearly gathering pace. This morning there was a short debate on the issues on the Today programme in response to UK government tax breaks for profits from patented innovations but it is now clear why the problems I raised in my last blog have not been addressed. Each year the US patent trolls earn more than Google paid for Motorola’s Mobility division. Encouraging major corporations to base global patent licensing operations in the UK should help us pay off some of out debts but is not in itself enough to help unshackle innovation and reward not only the truly creative but those who invest in the time, effort and risk to bring their ideas to market.

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