Patently-O, August 5, 2011 by Robert Merges, Pam Samuelson, and Ted Sichelman
First, our study only applies to U.S. startup companies. Second, many executives—particularly those in the biotechnology and medical device industries—reported that patents provide strong or moderate incentives to innovate. In the very least, prompt patent grants for these companies would not be “irrelevant” to stimulating innovation. Last, our responses on the role of patents in the innovation process relates to the patent system as it is currently constituted.