Innovation through research and development is a billion pound industry – we reported last week on Dyson and their $45 million investment in research and development which has now yielded massive profits for the second year running.
It’s little surprise that companies want to protect their investment and patent their ideas. The problem is, patenting MUST be exact in its definition of what the product does. Even the largest of companies argue over the rights to technology.
Apple, Google and Microsoft are going through one of the largest (both in terms of cost and length of time) legal battles following a disagreement over patent rights for mobile technology. There have been 27 different lawsuits already. Patent infringement will result in billions of pounds worth of compensation.
We await to hear how this problem will be rectified!
30th June 2017
31st May 2017