How might the growing tendency for technology companies to b

How might the growing tendency for technology companies to buy other firms\' patents affect innovation? Be specific.

Solution

Today the business world is moving towards innovation in technology. There is a race among the different companies to move ahead of the other business organisations in terms of technological innovations. But off late, the practice has changed and now technology companies are buying other firms\' patents and using it. So, there is no inclination towards making any innovations. This will have a negative impact on the innovations as well as the business of the company. It will also have an impact on the competition in the market. Since innovation had become the basis of competition, with the current practice of buying patents from other companies, every company will have the same kind of product. The tendency of the employess and the R&D team to do innovations would reduce over a period of time and affect the business.