Twenty-eight percent of American inventors reported that they did not attempt to develop an item they designed before seeing another company bring it to market, according to a report from 7th Space.
While most cited money as the primary reason for this decision, the current intellectual property market tends to discourage small businesses or independent innovators from taking chances. Despite lawmakers' attempts to improve the system, it has still proven to be a difficult landscape to navigate.
The report notes that even the best products can struggle while their creators attempt to acquire proper IP rights.
The value of IP in the modern economy cannot be understated. Even the largest companies in the world are currently posturing to develop a strong, valuable IP portfolio. This is especially true in burgeoning technological fields, such as enterprise and consumer mobility.
Recently, mobile operating system leader Google saw a bid for Nortel overcome by a larger attempt from a consortium of companies, including Microsoft and Apple. Despite the setback, Google instead acquired Motorola Mobility for more than $12 billion.