HOME FORUMS BROKERS SOFTWARE BOOKS CONTACT US
Elite Trader Your Account  •  Become a Member  •  Help  •  Search    
    Forums ›› Main ›› Wall St. News ›› Patent system needs overhaul  


Post A Reply
    Page 1 of 2:   1  2  
OddTrader
 

Registered: Mar 2003
Posts: 5283

 

09-01-12 07:05 PM

Patent system needs overhaul

http://www.theage.com.au/it-pro/bus...0830-251tb.html

"
Much anguish has been expressed over the Apple/Samsung patent court battle. It's not that this run of patent wars is new. They have been a feature of the technology business for over a century.

One of the nastiest feuds was between Thomas Edison and George Westinghouse. Apart from being a brilliant inventor, Edison was a consummate litigator. One of the reasons the movie business took root in California was to evade Edison's patent police. He owned the major patents on movie cameras and pursued anyone who reverse engineered his product.

It is a suitable irony that copyright violation is one of the foundations of the American film industry. Edison's struggle with Westinghouse over alternating current versus direct current was typically bitter. By 1900 Edison's legal costs were $2 million, equivalent to $52 million in today's money.
"

    Edit/Delete Quote Complain
d08
 

Registered: Aug 2008
Posts: 1374

 

09-01-12 07:34 PM

OT: Among other things, Edison was one twisted pervert. Taking the pets and electrocuting them to convince people how "bad" alternating current was. If he had gotten his way, none of us could afford electricity today.

    Edit/Delete Quote Complain
nutmeg
 

Registered: Jan 2007
Posts: 18264

 

09-02-12 03:12 AM


Quote from d08:

OT: Among other things, Edison was one twisted pervert. Taking the pets and electrocuting them to convince people how "bad" alternating current was. If he had gotten his way, none of us could afford electricity today.



Thomas Edison's biography will be published soon. It's called 'Mein Lampf'

    Edit/Delete Quote Complain
Bob111
 

Registered: May 2002
Posts: 6475

 

09-02-12 04:07 AM


Quote from nutmeg:

Thomas Edison's biography will be published soon. It's called 'Mein Lampf'



    Edit/Delete Quote Complain
oraclewizard77
Moderator

Registered: Jan 2006
Posts: 2324

 

09-02-12 05:29 AM

I think you miss the point. Companies can afford to spend $ billions to innovate new life saving drugs or inventions like the Iphone, if they can have a patent that covers this new technology for a certain number of years.

For example Lipitor was covered by a patent that has expired, and now you can get a generic form of the drug.

How do you expect companies to fund the cost of inventing a new life saving drug if they know the next week after it comes out someone will copy it and sell it at a lower cost? Especially with drugs, you need to spend tons of money trying to get FDA approval.

Most new inventions also come from the USA, this allows us to compete against lower cost labor from China.

Apple came out with the Iphone, and Samsung a south Korean company decided it was cheaper to copy it then innovate so they lost, and this was a good ruling.

    Edit/Delete Quote Complain
Option_Attack
 

Registered: Sep 2002
Posts: 391

 

09-02-12 12:59 PM


Quote from d08:

OT: Among other things, Edison was one twisted pervert. Taking the pets and electrocuting them to convince people how "bad" alternating current was. If he had gotten his way, none of us could afford electricity today.

Agree, Edison was a jerk who didn't invent much of anything. What he did do was relentlesly push his team of real scientists and engineers to invent in his name. The "current wars" with Tesla are fascinating to us technogeeks. A great injustice was the super genius Nikola dying nearly forgotten and poor.

But as it turns out, in some cases Edison was correct - DC is better for power transmission. Of course he had no concept of the voltage and equipment needed...

http://en.wikipedia.org/wiki/HVDC

A high-voltage, direct current (HVDC) electric power transmission system uses direct current for the bulk transmission of electrical power, in contrast with the more common alternating current systems. For long-distance transmission, HVDC systems may be less expensive and suffer lower electrical losses. For underwater power cables, HVDC avoids the heavy currents required by the cable capacitance. For shorter distances, the higher cost of DC conversion equipment compared to an AC system may still be warranted, due to other benefits of direct current links. HVDC allows power transmission between unsynchronized AC distribution systems, and can increase system stability by preventing cascading failures from propagating from one part of a wider power transmission grid to another...

    Edit/Delete Quote Complain
    Page 1 of 2:   1  2  
Post A Reply


Receive an email whenever a new post is added to this thread by subscribing to it.
 
Rate This Thread:

Forum Jump:
 

 

   Conduct Rules  -  Privacy Policy  -  Day Trader -  Day Trader Forum -  Best Trading Software -  Sitemap Copyright © 2013, Elite Trader. All rights reserved.    
 
WHILE YOU'RE HERE, TAKE A MINUTE TO VISIT SOME OF OUR SPONSORS:
Advantage Futures
Futures Brokerage & Clearing
AMP Global Clearing
Futures and FX Trading
Bright Trading
Professional Equities Trading
CTS
Futures Trading Software
DaytradingBias.com
Professional Trading Analytics
ECHOtrade
Professional Trading Firm
eSignal
Trading Software Provider
FXCM
Forex Trading Services
Global Futures
Futures, Options & FX Trading
Interactive Brokers
Pro Gateway to World Markets
JC Trading Group
Direct Access Trading
MB Trading
Direct Access Trading
MultiCharts
Trading Software Provider
NinjaTrader
Trading Software Provider
OANDA
Currency Trading
optionshouse
Option Trading & Education
Questrade
Canada's #1 Online Broker
Rithmic
Futures Trade Execution Platform
SpeedTrader
Direct Access Trading
SpreadProfessor
Spread Trading Instruction
thinkorswim by TD Ameritrade
Direct Access TradingAdvertisement
TradersStudio
System Building & Backtesting
Trading Technologies
Trading Software Provider
Trend Following
Trading Systems Provider