Pointing to a 1999 patent grant for a peanut butter sandwich as proof, Apple's chief patent counsel, Chip Lutton, said the patent system is tilting out of balance. Speaking at the AlwaysOn Stanford Summit today, Lutton cited three reasons:

1) Huge numbers of patents being issued on increasingly small innovations
2) Questions about quality of patents being issued
3) There is no good system for establishing the value of patents

He concluded that the problems suggest the existence of a bubble market. He wondered whether we can manage a soft landing or if a crisis will ensue.

For more on the AlwaysOn conference, see:
Jon Fortt
Chris Gulker

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