Evolving Inventions: Reinventing the Already Invented
THERE WAS A TIME WHEN INNOVATION WAS EASY. Suppose the caveman discovered by accident that rolling a giant rock on a log allowed him to move the rock more easily when he was forced to move it. In those days, intellectual property was not a thing. If someone today wanted to roll something on a log or other cylindrical object, that same caveman would file a patent and demand license payments by the patent company . Previously there were no patent services and no such patent filing services . Nowadays, Selling a patent is also possible. R&D expenditures are increasing as everyday technology becomes more complex. Among the top 1,000 corporate spenders, Booz Allen Hamilton reports that R&D spending is increasing. Many economists believe that inventing an idea will drive the economy in the future as we continue to move manufacturing jobs overseas for wages that would make Walmart's pay scales seem modest. Yes, perhaps. Yet most of us don't know how to identify a pr...