A new business article on “measuring innovation” notes that 50% of firms investing in R&D are not patenting the results of their research. The main thrust of the article is that, because so many firms are avoiding the patent system, that patents do not make sense as a broad measure of innovation. Their solution is to use the Research Quotient (Prof Knott’s measure of optimal research output based upon various financial outputs) as a better measure. See Cooper, Knott, and Yang, Measuring Innovation (March 2, 2015). Available at SSRN: http://ssrn.com/abstract=2572815 or http://dx.doi.org/10.2139/ssrn.2572815.