Do lawyers/lawsuits drive up the costs of technology and healthcare?
i see companies like google,apple, and microsoft spend significant portions of their budgets buying millions of dollars of patents so that they can freely innovate without the fears of a lawsuit...if that same money was used to create new technologies or products, would we have better internet or better iphones or just live in a more advanced society?
also, i see that physicians emphasize defensive medicine on a number of occasions...that is, they practice medicine in such a way to avoid lawsuits as opposed to trying to help out a patient in dire need
- AthenaLv 79 years agoFavorite Answer
Well, yes and no.
It does limit technology to the country. You would be amazed the medicines U.S. companies make for sale in other countries. Things they cannot sell here because of our legal system.
- Nuff SedLv 79 years ago
The patent acquisitions and licenses you mention are part of the economics of technology: not everyone has the top inventor working for them, so they see if they can license relevant inventions from those who do. The whole goal of patents is the publication of new ideas so that others can learn and progress is accelerated, at the expense of allowing an inventor to have a limited monopoly on a SPECIFIC invention for a short time. If you were not allowed to patent a pharmaceutical, for example, why would you spend $100 million to develop and test it, knowing that all of your competitors would immediately copy it and flood the market?
- 9 years ago
Yep and that is exactly why the Ming Dynasty collapsed. That is why I support Ron Paul and I swear I will not budge and I will vote for him no matter what happens.
Sometimes we have to make sacrifices so that we could save our country. Yes even save our country from themselves.
- ChuckLv 59 years ago