Are patents worth it? Lessons from the $9bn Theranos fraud

The world is buzzing about Elizabeth Holmes. Her $9bn+ biotech company Theranos promised low-cost tech able to detect health ailments with just a few drops of blood from a fingertip. In reality, it endangered lives with its flawed and overhyped blood-testing tech. In the wake of massive fraud charges in 2018, Theranos went from Silicon Valley darling to a spectacular failure virtually overnight, shutting down in Sept-2018. And yet, in 2019, Theranos was granted 5 new patents! Clearly, there’s a disconnect between the legal world of IP, and the real world of science and business. Patents should definitely encourage innovation and outside-the-box creative thinking. But if unethical companies like Theranos are granted lots of patents, are patents really worth the cost and effort involved in getting them? Find out more in this intriguing article at https://www.cbinsights.com/research/theranos-patents-2019/

One thought on “Are patents worth it? Lessons from the $9bn Theranos fraud

Leave a Reply

Your email address will not be published. Required fields are marked *