Innovation is an inherently uncertain process. Success is typically coupled with risk and we can only hope that those … with great ideas will persevere. To encourage innovation, society reduces some of the innovation risk through structures … simply stop playing the game.Such uncertainty has recently been a topic of great concern in the U.S. patent system. Some …

There are three essential sources of uncertainty in the patent system: perceived uncertainty due to selective sampling … that should be of concern to reformers. With respect to this source, uncertainty in the patent system is largely a function … of two variables: the degree of inherent abstraction associated with the patent, and the degree to which the patent …

This book proposes an integrated approach to patent risk and capital budgeting in pharmaceutical research and … development (R and D), developing an option-based view (OBV) of imperfect patent protection, which draws upon contingent …-claims analysis, stochastic game theory, as well as novel numerical methods. The text re-initiates a discussion about the contribution …