IBM does a lot of stuff that's really patent-worthy - materials, processes, semiconductor techniques etc. It's not like they patented the most FAT filesystems, double-tap-to-open or one-click-purchases for the 21st year in a row.
I'm an IBMer but I'm also personally disgusted with stupid patents. IBM does invent a lot of things. They also purchase companies that invent a lot of things. Though I have seen a few examples on HN where they were granted a patent for something that was already somewhat common (can't find the reference, sorry). Basically they aren't your typical patent trolls even though their business models relies on owning patents.
I'm quite sure that even if you removed the stupid/obvious patents from the total, there is a good chance IBM would still be leading the pack.
Are the (few in percentage) "good patents" the carrot so that we the pull the cart and accept the whole patent system?