We are delighted that the 2025 Nobel Prize in Economics has been awarded to the three growth researchers and economists Joel Mokyr, Philippe Aghion, and Peter Howitt. They were honored for their research on innovation-driven, sustainable (economic) growth. At the heart of their work is the realization that technological progress is driven by “creative destruction”: new ideas and technologies prevail over existing structures and thus drive economic development - often against resistance.
Particularly relevant to the IP sector: Philippe Aghion has dealt extensively with the role of patents in innovation processes. In particular, he has evaluated the question of whether patents actually promote innovation or whether they are strategically abused by so-called non-practicing entities (NPEs). The award winners also show how competition and patent protection interact in a Schumpeterian growth model: better patent protection extends the phase in which companies can set themselves apart from the competition through innovation, thereby creating stronger incentives for genuine progress.
For us as an IP law firm, this sends a strong signal: patents are effective. Patents are fundamental. Patents are not just property rights - they are powerful economic tools. They create legal certainty, promote investment, and help innovators compete.
Those who innovate need a strong, defensible patent portfolio - and Meissner Bolte stands ready to support you in this endeavor.
