The ultimate end of patent law must be to spur innovations that improve human welfare — innovations that make people better off. But firms will only invest resources in developing patentable inventions that will allow them to make money — that is, inventions that people will want to use and...

The modern law of induced patent infringement contradicts the Patent Act and violates the First Amendment. As currently applied, the law unconstitutionally restricts speech, discourages the entry of generic drugs, and helps keep medicine prices high. Under current doctrine, a generic drugmaker...

Ayurveda medicine system has a strong background in Indian culture. Modernized practices derived from Ayurvedic culture is used as alternative medicine in the field of Ayurveda. In this system of medicine, there is a belief that, through Ayurveda protocols, any substance can be changed into...

Drug patents are distorted. Unlike most other inventors, drug inventors must complete years of testing to the government’s specifications and seek government approval to commercialize their inventions. All the while, the patent term runs. When a drug inventor finally launches a medicine that...

Drug patents are distorted. Unlike most other inventors, drug inventors must complete years of testing to the government’s specifications and seek government approval to commercialize their inventions. All the while, the patent term runs. When a drug inventor finally launches a medicine that...

The traditional argument that shorter product cycles favor trade secret over patenting is reviewed. A game theoretic model provides an argument that shorter product cycles can induce firms to file more patent applications. The firms may be trapped in a prisoners' dilemma where all firms would...

The traditional argument that shorter product cycles favor trade secret over patenting is reviewed. A game theoretic model provides an argument that shorter product cycles can induce firms to file more patent applications. The firms may be trapped in a prisoners' dilemma where all firms would...

This paper extends the Cournot-Shapiro model to provide a tractable model of voluntary patent pool formation among standard essential patent holders. We assume that patent holders have complementary patents for a standard. We first show that the existence of a path of voluntary patent pool...