Small businesses are accounting for a smaller fraction of new technology creation than they used to, at least according data from the U.S. Patent and Trademark Office (USPTO). That trend has many policy makers and pundits concerned that our innovation system is handicapping small business.
While that explanation is possible, I think a more basic story accounts for the trend. Small business is a shrinking fraction of the U.S. economy.
Why Small Business Share of U.S. Inventions is Declining
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