I'm wondering if the new patent law reform passed by the senate will result in a dramatic decrease in patent law jobs. ""The bill also set rules for allowing patents to be challenged after they are granted, which supporters say is cheaper than litigation." (Reuters)
"Productive companies are spending billions of dollars in money and resources to defend themselves against patent lawsuits. The cost of defending an average patent lawsuit is between $2 million and $4.5 million. Furthermore, prior to 1990 there had been only one patent damages award in history larger than $100 million, yet in the past five years, there have been at least ten judgments and settlements in that category, and at least four that topped $500 million. One topped $1.5 billion. This is money that could be otherwise re-invested in the companies, spurring innovation and creating high-paying jobs." Patent Fairness Coalition
Seems to me now companies won't be putting this money into protecting their patents; so will this bill actually REDUCE the number of patent law jobs because now less legal quibbling will be needed by companies?