The objective of this paper is twofold. First, we study the patent hold-up problem in game-theoretic framework. We show … that in subgame perfect equilibrium of the patent hold-up game the innovating manufacturer exerts reduced effort to develop … the new product and the patent holder obtains the entire value of product innovation. Second, we show that royalty …

The objective of this paper is to show the necessity of reviving the debate on the economic justifications for patent … patent protection, and on the other hand, we believe that major changes to the patent law should be considered. Critical … review of the discussion on patents shows that the weaknesses of many arguments for patent protection, as well as the …

The objective of this paper is to compare the impact of R&D competition (i) under patent protection and (ii) under no … patent protection on enterprise innovation and performance with the impact of R&D cooperation in the form of R&D cartel on … spillovers, the R&D investments under patent protection are smaller than in the case of no patent protection. When firms create a …

smaller. Enterprise innovation under no patent protection is higher or equal to the enterprise innovation under patent … protection. Under patent protection, individual sunk costs of R&D increase and constitute a significant disincentive to invest in …