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Mike Masnick at techdirt thinks patents are overrated. In fact, he thinks execution trumps patents every time when it comes to leading start-ups to success.
He blogs that if you’re talking to a VC who demands a patent to invest, you might be better served by looking elsewhere. Here’s a snippet on why he believes patents just aren’t necessary:
"…Over the years, we’ve seen more and more venture capitalists come to the realization that in many cases, patents do a lot more harm than good.
We’ve written about a few venture capitalists who have come out about problems with patents — and over the weekend Union Square Ventures’ Fred Wilson (a friend, and Techdirt reader), wrote about just how much damage patents have done towards innovation — specifically with some of his portfolio companies. Specifically, he’s talking about having those companies sued by non-practicing entities (he uses the term "trolls" which we like to avoid).
He also mentions — in the comments — how USV doesn’t require companies to have patents, and he’s invested in plenty of companies without patents."
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