Less patent protection means that companies have less time to get a return on their investment in research, development, production, sales and marketing. Which in turn means that they are less willing to take on risks to develop new products.
For example, for every successful drug a pharmaceutical company launches, many others fail during development and trial. Without enough patent protection for the drugs that do make it to market, the company will not have time to make enough money to cover the research and development costs for both the successful drug and the drugs that didn’t make it and at the same time finance future drugs. As a result, fewer drugs are developed to the detriment of all of us.
Think Right or Wrong, Not Left or Right 