Patents are the result of risky and costly R&D and the developer will try to recover its costs (and earn a return) through the sale of products covered by the patent, licensing others to use the invention (often a product or process), or through the outright sale of the patent.Patents are...

Why do some innovators freely reveal their intellectual property? This empirical puzzle has been a focal point of debate in the R&D literature. We show that innovators may share proprietary technology with rivals for free - even if it does not directly benefit them - to slow down competition. By...

Intellectual property frequently carries with it exclusive rights not only over the primary subject matter of the rights granted, but also over ancillary subject matter that is not within the definition of the primary grant, as for example in the patent doctrine of contributory infringement....

At least since Arrow (1962), economists have believed that strong property rights are necessary for firms to invest in innovation. This belief was a key principle underlying the Bayh-Dole Act, which gave universities the right to own and license federally funded inventions, because the...

This paper comprehensively explores the compelling framework encompassing Opportunity Econophysics, Opportunity Cones, Conscious Agents, and the Traces of the Conscious Dimension within the context of economic systems. The interdisciplinary nature of this framework integrates concepts from...

There is considerable debate regarding the use of intellectual property rights (IPR) to spur innovation in the software industry. In this paper we focus on the choice of intellectual property right regimes and industry growth. We begin by developing a growth optimal mixture of open source and...

There is considerable debate regarding the use of intellectual property rights (IPR) to spur innovation in the software industry. In this paper we focus on the choice of intellectual property right regimes and industry growth. We begin by developing a growth optimal mixture of open source and...

Within the context of an endogenous growth model with nonhomothetic preferences and income distribution, this paper analyzes whether there might be disagreement between rich and poor consumers about the optimal patent policy. In equilibrium, the poor and the rich differ with respect to the share...

We develop a Schumpeterian growth model to analyze the interaction between patent policy and firms’ internal strategies to capture value from innovations. We consider two dimensions of patent policy: backward protection against imitation and forward protection, also known as blocking patents,...

From the standpoint of policies, the different branches of economics may be aggregated into two categories: dirigiste and laissez fairist. Dirigiste theories in economics have been based primarily on the complexity of commodities: this allows commodities to be ranked according to the...