Retarding Innovative Ideas: Facebook And Six Other Tech Companies Stand Against It?

Must Read

Hands-Free Resources: How Businesses Are Using AR to Make Workplaces Safe and Productive

The role of efficiency and ease in the modern world has become forefronted when it comes to technology, particularly...

Top Countries by App Downloads Q2 2021: India Dominates With 7 Billion+ Downloads [REPORT]

As the adoption of smartphones and the Internet has increased over the last decade, so has the number of...

3 Most Common Mistakes Social Media Marketers Are Committing In 2016

In their quest for greater sales and increased ROI, the self-appointed “digital marketing guru” has lost touch with what...

Retardations in innovations are rapidly seen these days. Patent arguments continue to command much of the tech world’s attention and corporate resources. Group of prominent companies like Facebook, Zynga, Twitter and five other are taking stand against this practice by filing an amicus brief in the U.S. State Court of Appeals for the Federal Circuit on last Friday, asking the court to reject the patents central to a lawsuit between two financial institutions.

Court of Appeals for the Federal Circuit on Friday asked the court to reject the patents central to a lawsuit between two financial institutions. CLS Bank sued Alice Corp for infringing on four patents covering a computerized method of having a third-party hold funds in escrow on behalf of two other contracting parties. However, the courts initially ruled that Alice’s patents were eligible and could be used to counter-sue CLS for infringement.

The 37-page brief (see below), also is signed by Dell, Intuit, Homeaway, Rackspace, and Red Hat. The brief also argues that combining phrases such as “on a computer” or “over the Internet” with an abstract idea doesn’t deserve a patent. The brief said the issue was crucially important in concern with high-tech companies and patents to such abstract ideas stump real innovations.

Advertisements

Nowadays copying is redefined as inspiration and the word inspiration has gone for a toss. The court has to reject such abstract patents for vague concepts instead of specific applications because they rack up costs and retard innovation.  It feels good that these companies took away sometime to fight against these issues. Major reformations and excessive protection on patents has to be done, especially on sectors of IT and pharmaceuticals. Due to these adoption of vague ideas consumers are getting misused and guided towards duplicate brands. A steep licensing fee has to be forced on such activities.

While this is just pointing out the obvious fact that all abstract patents are harmful to society and the economy. Eventually, a majority will realize that this example can be extrapolated all the way up to the basic idea that, giving government granted monopolies on any idea is harmful when taken to logical conclusion.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest News

Installing Windows 11 OS: Don’t Fall Prey To Hackers!

Microsoft had once said that its Windows OS line-up will end after Windows 10. But 6 years after launching...

In-Depth: Dprime

Will ‘TikTok By Microsoft’ Be A Winner?

For the last two years, TikTok has been in the public eye for all sorts of reasons. First, it was the exploded and unparalleled...

Facebook Subscription Model: Looking Beyond Ad Dollars?

Seldom do job listings create a stir this gripping. However, when the job listing in question is a stealth post from Twitter, with a...

Will The Online Food Delivery Market in India End Up Becoming A Two-Horse Race?

It's pretty much evident that the food delivery space in India is all set to get riled up soon enough as one of the...

More Articles Like This