“‘Making innovation and R&D a priority, for instance, needs to go beyond pumping investments into research, to commercialise outcomes,” SM was quoted as saying after the latest ESC report called for more R&D spending. Here’s an idea (courtesy of NYT) that S’pore Inc. should think about.
“Nathan Myhrvold wants to shake up the marketplace for ideas. His mission and the activities of the company he heads, Intellectual Ventures, a secretive $5 billion investment firm that has scooped up 30,000 patents, inspire admiration and angst.
‘Admirers of Mr. Myhrvold, the scientist who led Microsoft’s technology development in the 1990s, see an innovator seeking to elevate the economic role and financial rewards for inventors whose patented ideas are often used without compensation by big technology companies … Mr. Myhrvold describes the patent world as a vastly underdeveloped market, starved for private capital and too dependent on federal financing for universities and government agencies [ a “charity model” ], which is mainly aimed at scientific discovery anyway … he foresees patents being valued as a separate asset class, like real estate or securities.”
But then since S’pore likes to work with big- name MNCs there will be a problem.
“His detractors see a cynical operator deploying his bulging patent trove as a powerful bargaining chip, along with the implied threat of costly litigation, to prod high-tech companies to pay him lucrative fees. They call his company “Intellectual Vultures.”… His antagonists, he says, are the “cozy oligarchy” of big technology companies like I.B.M.,Hewlett-Packard and others that typically reach cross-licensing agreements with each other, and then refuse to deal with or acknowledge the work of inventors or smaller companies.”