The problem with "patenting an algorithm" is that it's "not allowed" by the rules of patents. You cannot patent laws of nature, like math (not that that stopped everyone [0]). Algorithms are purely mathematical constructs. The idea that someone "owns" something just because they discovered it, not invented it, is scary.

Of course, I'll give you that algorithms sort of feels like a gray area. Even though they're pure math, they also sometimes feel like inventions to me.

[0]: http://www.amazon.com/Math-You-Cant-Use-Copyright/dp/0815749...

Has anyone ever read this? http://www.amazon.co.uk/Math-You-Cant-Use-Copyright/dp/08157...