This paper develops a three-stage model of innovation, fixed-fee licensing and production to evaluate the welfare effects of compulsory licensing, taking into account both static (information sharing) and dynamic (innovation incentive) effects. Compulsory licensing is shown to have an...

This article analyzes the effects of intellectual property rights protection on innovation in a quality-ladder model in which part of the consumers value being the exclusive consumers of the newest generation of a good. In the case of a monopoly innovator, we show that reducing IP protection can...

Scientific literature postulates that nanotechnology is to be considered as general purpose technology (GPT), characterized by pervasiveness, high technological dynamism and the inducement of innovations within a variety of applications. We set out to not only further systematize existing...

This paper aims to mapping the biotechnological regulatory aspects in China. It presents the historical evolution of biotechnologies in the country, focusing on the public support to the area. It discusses the main changes on Chinese Patent Law and details the patentable subject on...

Brazil has evolved strikingly in the last few years in the area of health assistance and access to medicines by its aging and urbanizing population. The government has also set the health industry - which includes pharmaceutical innovation - as one of its strategic sectors to be developed in the...

This paper analyzes the evolution of technological development in Brazil, considering the impacts of the Brazilian Intellectual Property Law, introduced in 1996, in Brazilian enterprises` patenting. Firstly, the paper presents the main debates about intellectual property rights. Then, it...

The U.S. has been under pressure to abandon the unique first-to-invent feature of its patent law for awarding patents. The opposition to reform however argues that switch to a first-to-file rule, the international norm, will undermine innovation. We evaluate this argument in a dynamic stochastic...

We reconsider the justifications of R&D subsidies by Spencer and Brander (1983) and others by allowing firms to pool R&D investments and license innovations. In equilibrium R&D joint ventures are formed and licensing occurs in a way that eliminates the strategic benefits of R&D investment in the...

This paper investigates how patent applications and grants held by new ventures improve their ability to attract venture capital (VC) financing. We argue that investors are faced with considerable uncertainty and therefore rely on patents as signals when trying to assess the prospects of...

We investigate incidence and evolution of patent thickets. Our empirical analysis is based on a theoretical model of patenting in complex and discrete technologies. The model captures how competition for patent portfolios and complementarity of patents affect patenting incentives. We show that...