Patents provide the incentive to invest in R&D by providing a form of guarantee on their investments.
Generally speaking, the countries with the strongest patent rights produce many of the innovative companies.
Generally speaking, the countries with the strongest patent rights produce many of the innovative companies.
The article suggests that the available evidence does not support this conclusion. It seems that in historical technology fairs, countries with a weak or no patent system in place performed as well as other countries, both in terms of numbers of inventions they presented, and awards they received.
The article also describes some instances where patents clearly inhibited innovation - for example in the US in 1916, aircraft production halted due to patent disputes between Wright and Curtiss.