By Tim Worstall, Contributor Google, BlackBerry, Earthlink and Red Hat have made a submission concerning the activities of “Patent Assertion Entities” or PAEs and I’m afraid that there’s a logical mistake in said submission. That mistake being that hiving off patents into a PAE is not necessarily a bad thing: indeed, standard classical economics would suggest that it’s not only a logical thing to do, it’s desirable. Google, along with BlackBerry, EarthLink and Red Hat, today appealed to the Federal Trade Commission and Department of Justice to take stronger action against companies like Lodsys, Intellectual Ventures, and other “patent assertion entities” (aka patent trolls or so-called patent privateers) — companies they believe abuse patents for financial gain and are an increasing detriment to the technology industry, costing U.S. companies alone nearly $30 billion in 2011, “and $80 billion when accounting for all costs – direct and indirect.” The submission in full can be read here. …read more
Source: FULL ARTICLE at Forbes Latest