This article investigates patent protection for a long sequence of innovations where firms repeatedly supersede each other. Incentives for R&D can be insufficient if successful firms earn market profit only until competitors achieve something better. To correct this problem, patents must provide...

This paper utilizes a data set of over 208,000 U.S. patents applied for between 1975 and 2010 to study development of strategic patenting over time and across industries. With received citations as a measure of patent social value, we use data envelopment analysis to estimate firm-level relative...

Investments in R&D and agricultural innovations have been fundamental to long-term economic growth worldwide. But global resource allocation has been uneven, with some developing countries closing in on developed-world scientific capacities, others regaining ground lost over the past decade or...

The objective of this paper is to show the necessity of reviving the debate on the economic justifications for patent protection. On the one hand, we see the need for the assessment of the overall welfare consequences of the existing systems of patent protection, and on the other hand, we...

This paper tests a number of hypotheses on the use and effectiveness of patents and trade secrets designed to protect innovation. While previous studies have often considered patents and trade secrets as substitutes for one another, we investigate the complementary role of the two protection...

3D printing is a technology that has the potential to revolutionise manufacturing as we know it. While 3D printing is becoming mainstream, few consumers of printing services have the capacity to undertake their own printing. Around the technology, a service industry is burgeoning, as consumers...

Concerns have been raised that the upsurge of 3D printing technology would disrupt the patent system. The central question the present paper aims to address is whether and to what extent the emergence of 3D printing technology indeed urges us to rethink patent law. The paper splits up this...

Recent work suggests that Patent Assertion Entities (PAEs) — or “patent trolls” — are a new form of financial intermediary. According to this view, individual patent holders are unable to contract with large manufacturers because they lack the financial resources necessary to litigate...

This study examines the role of indemnification clauses on intellectual property (IP) rights in the case of licensing deals. We propose that indemnification clauses on intellectual property rights operate as signals to share the risk and reduce moral hazard in licensing contracts. Building on...