We present a selective survey of the economic theory of intellectual property rights. After a brief description of the institutional framework, we discuss policy objectives and some basic welfare tradeoffs in intellectual property design. We consider the extent to which social objectives can be...

The recognition of property rights in intangible intellectual creations and the protection of these rights through the mechanisms of copyright, patents, trademarks, industrial designs, and related rights has led to the acceptance of Intellectual property rights as highly valuable business...

Many high technology goods are based on standards that require several essential patents owned by different IP holders. This gives rise to a complements and a double mark-up problem. We compare the welfare effects of two different business strategies dealing with these problems. Vertical...