Here’s Matthew Yglesias on the acquisition of the Nortel patent portfolio by a consortium that includes Apple, Microsoft, and RIM:

I think the basic dynamic to keep in mind here is that insofar as rich high tech companies dedicate resources to hiring engineers to compete with one another by building better products, the consumer ends up winning. But insofar as rich high tech companies dedicate resources to hiring patent lawyers to sue each other or hire investment bankers to help evaluate patent-based acquisition strategies, almost all the surplus is accruing to the lawyers and bankers.