If truth be told, few inventions are really worth patenting. Time and again, surveys show that in both America and Europe companies rate superior sales and service, lead time and secrecy as far more important than patents when it comes to profiting from innovation. And, although applying for patents is relatively cheap, the cost of maintaining them can be horrendous. If the idea behind a patent has any commercial merit, it will attract imitators-and the inventor must be prepared to defend it in the courts. In a majority of cases, the cost of litigation will far exceed any revenue the inventor may subsequently earn from royalties or licensing...