Mises: Are Patents "Monopolies"?
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Started by: zoobabzoobab
Date: 14 Jul 2009 14:33
Number of posts: 1
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Now it is, indeed, clear that a patent is a monopoly grant to someone that permits them to charge above-market prices; this is exactly the goal of the patent law: to provide this monopoly profit to inventors so as to incentivize them to innovate and file for patents. And it is why, for example, Blackberry paid over $600 million to NTP in a recent patent suit; and it is why consumers will have to pay more for Blackberry services than they otherwise would, etc. Did NTP have "monopoly power" as defined by the government's antitrust scheme? I don't know. Probably not. But did they extort RIM/Blackberry by use of the government-granted patent monopoly? Of course.
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