Patent renewals and R&D incentives

Article Abstract:

Patent fees can be employed as an incentive device for implementing a policy of optimally differentiated patent lives. The use of patent renewal fees in this manner has potential benefits as demonstrated by a model that has moral hazard and asymmetric information. In terms of social welfare, the model further shows that differentiated patent lives can be better than a uniform patent life. Simulation analysis is used to show how to implement the optimal patent mechanism and compare the main characteristics of the simulated optimal mechanism with existing patent systems.

Research, Management

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Patent policy and the direction of technological change

Article Abstract:

Strategies of capturing consumers by an entrant firm through the use of process innovations and product innovations are tested on heterogeneous consumers. Analysis showed that the more attractive strategy would be to give more importance to product innovations because they would lessen competition due to a more differentiated product, rather than to reduce prices as a result of process innovations but competing in a wider market. Government can rectify the bias toward product innovation by dictating a wider patent breadth on process innovation.

Analysis, New products, Product introduction, Cost control

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How valuable is patent protection? Estimates by technology field

Article Abstract:

Patent protection was found to contributed small amount of returns for research and development across the spectrum of technology fields. This shows that patent protection contributes a small force in R&D incentives, but is shown to be effective in creating valuable property rights. Much of the potential of patent protection in creating returns is limited by institutional factors such as laws and regulations.

Models

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