Patent transactions are a key component of technology markets, enabling patent owners and other firms to efficiently commercialize new technologies on the costly and risky path from “lab” to “market.” Mandatory patent exhaustion without the possibility of contractual waiver or...

It is widely argued that international extension of the patent system hinders innovation and growth in developing countries by restricting access to technological inputs. I re-examine the connection between patents, innovation and development by assessing the extent to which the U.S. patent...