I am always disappointed to see the usual attacks on the patent system. We have underfunded the Patent office, ignored the system and its requirements for so long it developed warts.
From both a societal and an investing perspective, it is important to protect Intellectual Property rights. We want to encourage entrepreneurs and innovators to create and invent, and protect them from those who would simply steal their inventions.
Regardless, here is a healthy critique of what is wrong with the patent system — in particular, I am concerned about the patent warehouses:
Full size infographic after the jump