3 thoughts on “The economic case against patents”

  1. Posted 23/01/2015 at 08:40 | Permalink

    “Hence, the best solution is to abolish patents and replace them with legal instruments that are less open to rent-seeking behaviour, to foster innovation whenever there is clear evidence that laissez-faire under-supplies it.”.

    Can you provide some examples of what these legal instruments might be and how they would work?

  2. Posted 23/01/2015 at 14:46 | Permalink

    One could imagine a form of royalties to be used to replace patents. Some academic work has been done on this in the case of pharmaceuticals. Another mechanism that has been considered is to think of a patent like a “real option” contract because it allows its owner to choose between exclusively commercialising the patented invention sometime during the patent term or foregoing commercialisation altogether. The latter could prevent patent trolling behaviour.

  3. Posted 25/01/2015 at 19:09 | Permalink

    Just a thought. I may have overlooked someone, but wasn’t Albert Einstein one of the more distinguished people to be employed in a patent office albeit 110 yrs. ago. I wonder does anyone know if he had anything to say about patents in general?

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