Apple has been burned in the past because of patents. This is the reason Apple has been so assiduous in patenting everything it can. The company's zeal for patents is not just an offensive weapon to thwart the like of Samsung but also a defensive weapon to be used to beat back patent suits. We can see this in Apple's recent $386 million patent suit loss to VirnetX over VPN technology. But as software and design patents proliferate in the technology industry, it has to be asked whether these kinds of patents are just another form of rent-seeking by competitors looking to pad their bottom line.
The Apple - Samsung patent disputes are at the heart of the mobile patent issue that is consuming the technology industry. In particular, the recent decision to award Apple $1.05 billion in a patent ...
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.