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Novel early stage ideas face uncertainty on the expertise needed to elaborate them, which creates a need to circulate them widely to find a match. Yet as information is not excludable, shared ideas may be stolen, reducing incentives to innovate. Still, in idea-rich environments inventors may...
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the social benefits of their innovations if innovation is to be suitably rewarded and encouraged. However, this paper … deadweight loss associated with the patent system and discourage innovation by others. Economic efficiency is promoted if rewards … the patent system designed to spur innovation by better aligning the rewards and contributions of patent holders …
Persistent link: https://www.econbiz.de/10012751912