America is supposed to be a place where independent inventors and
small firms play a key role in the creation of new technology. As New
York University economics Professor Will Baumol wrote in the
2008 Small Business Economy, “small enterprises have made
… a critical contribution to … innovation accomplishments. Without
breakthroughs such as the airplane, FM radio, and the personal computer,
all introduced by small firms, life in the industrialized economies
would be very different today.
Moreover, small firms are believed to be particularly productive inventors. According to the U.S. Small Business Administration (SBA), small companies “produce 13 times more patents per employee than large patenting firms.” And small firm patents tend to be more technically important. As the SBA explains, “these patents are twice as likely as large firm patents to be among the one percent most cited.
To read the full, original article click on this link: Patents Granted to Small Entities in Decline | Small Business Trends
Author: Scott Shane
