> Patents are one of the primary ways that incumbents are able to rent seek on their inventions for decades. These large companies hoard patents, and are legally granted monopoly on a given technology, making direct competition on their invention illegal.
Totally agreed, and the solution there is (in my opinion) to reduce the duration of such patents to the point where newcomers have a reasonable chance to bootstrap a business based on that patent, but not so long that patents bar competitors from coming to market down the line.
Value-based taxation will always favor those with deep pockets who can afford to pay top dollar to scrape the cream off of small businesses.
Totally agreed, and the solution there is (in my opinion) to reduce the duration of such patents to the point where newcomers have a reasonable chance to bootstrap a business based on that patent, but not so long that patents bar competitors from coming to market down the line.
Value-based taxation will always favor those with deep pockets who can afford to pay top dollar to scrape the cream off of small businesses.