Innovation is hard, it needs fanatical dedication and focused innovators like Steve Jobs to come up with blockbuster product ideas like the iPad and iPhone. And although there was one Steve Jobs, he inspired thousands if not millions to try their own stuff.
Capturing value from your innovation efforts depends on protection of intellectual property and the recent award of $1.05 Billion to Apple was decisive and quick action by jurors in San Jose,California. Velvin Hogan the Jury Foreman probably knew how hard it is to come up with intellectual property because Hogan has a patent of his own.
American innovation works because courts move quickly and jurors understand the importance of giving credit for innovation to the innovator by recognizing intellectual property. When firms innovate, prices do go up as Samsung says in the video alongside from CNET. However,you do get products like Lipitor , the cholesterol blockbuster drug from Pfizer, now out of patent and available much cheaper. American innovation leads to American jobs.
In most emerging markets intellectual property law is weak. As is the enforcement and it does not appear likely that things will improve soon enough for accelerating American innovation for global markets and more American jobs. Contact StratoServe.