Econ 483_Lecture 12_Optimal IP protection

This system allows the inventor to make recovery of

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Unformatted text preview: he inventor to make recovery of some research costs by setting monopoly prices. After the patent period has expired, all parties can make use of the invention & prices are determined by market forces. Lecture 12: Optimal design of IP, Econ483: Econ of Innovation & Technology, Evangelia Chalioti c A ll rights reserved. Intro Length Breadth Optimal policy Patent as a property right Patent is the right to produce & sell a new product or process without competition of any kind for a limited period. This right extends 20 years from the date of the application, if successful. The patentable good is required to be new, useful & nonobvious. The grand of a patent determines the breadth of the IP protection; i.e. how ‘ close’would a rival invention have to be in order to infringe the patent. Lecture 12: Optimal design of IP, Econ483: Econ of Innovation & Technology, Evangelia Chalioti c A ll rights reserved. Intro Length Breadth Optimal policy Ideas & length of protection Lecture 12: Optimal design of IP, Econ483: Econ of Innovation & Technology, Evangelia Chalioti c A ll rights reserved. Intro Le...
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This note was uploaded on 03/16/2014 for the course ECON 483 taught by Professor Staff during the Spring '08 term at University of Illinois, Urbana Champaign.

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