Comment by Asooka

Reverse engineering may be easy for really simple inventions, but quickly becomes so hard you may as well invent the thing from scratch. Look at USSR's domestic chip production. At one point they succeeded in reverse-engineering chips like Intel's 8086, VAX etc., but chip design very quickly became so complex reverse-engineering the entire chip became impossible. I would say if an invention can be easily reverse-engineered, then it is a simple foundational idea that should not be patented, and if it is truly innovative, then it cannot be reverse-engineered easily and doesn't need patent protections.

Then there is the fact that when something is patented, that has a chilling effect on competition, making the market less efficient.

There are also a lot of really silly patents that end up benefitting no-one, not even their inventor, but only result in needless litigation. The recent lawsuit between Nintendo and PocketPair comes to mind.

While there are cases in which patent law can help individual people profit from their invention, once all consequences are tallied, the overall effect of patent law on society appears to be negative.