Wake-up call for American innovation
American innovation faces an existential threat: the steady erosion of intellectual property rights. Early stage biotech funding is on track to decline 40% this year, and leading investors have made clear that one reason for the retreat is their declining faith in the sanctity of patents. This retreat is understandable. Investing in life science is risky and expensive. Patents and other intellectual property are what offer the possibility of financial upside if all the risks are overcome and the technology actually makes it to market. Yet in recent years, Washington has seemed ...