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eiffel's Avatar
Posts: 600 | Thanked: 742 times | Joined on Sep 2008 @ England
#73
Originally Posted by mullf View Post
What is the incentive of spending millions of dollars to develop a new invention when a competitor can simply copy it and sell it for production cost without having to recoup the R&D investment? This is a prescription to end most high-dollar R&D.
Not at all. The general idea is that without patents, every company would provide R&D to produce incremental improvements to gain an edge in the market. Improvements would soon flow back into the commons, for others to improve upon.

Kind of like how open source works.

And without all the money being spent on lawyers, there's more to be spent on R&D.

Regards,
Roger