Archive for November 9th, 2009
Here is another article , “The Case for Market Based Patent Reform” pushing patent reform. This article repeats many of the myths of those people who want to weaken our patent system. For instance, it repeats the myth that there is a patent quality problem. All the studies that purport to scientifically show that there is a patent quality problem have flawed methodologies. For more information see Patent Quality Myth . What we have in this country is a small number of large companies that have made a business out of infringing (stealing) other peoples’ patents.
Sarbanes Oxley (Sarbox) is starving high technology start-ups for capital. Mathew Bandyk, in US News and World Report, suggests that not only has Sarbanes Oxley hurt venture capital, and decreased the number of IPOs, it is imposing costs on small businesses.[1] The reason that Sarbox is increasing the costs for small business, according to Bandyk, is that accountants are applying Sarbox rules to small businesses out of habit or conservatism. In order for a company to go public nowadays, a company needs somewhere near $1 billion in annual revenue. For more information on the damaging effects and absurdity of Sarbox see Sarbanes Oxley – The Medicine is Worse Than the Disease. Since it does not appear likely that Washington is going to fix Sarbox anytime, how can we mitigate its damage?
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