Abstract

http://ssrn.com/abstract=1341201
 
 

Citations (3)



 


 



Of Patents and Property


James E. Bessen


Boston University - School of Law; Research on Innovation

Michael J. Meurer


Boston University - School of Law


Regulation, Vol. 31, No. 4, Winter 2008-2009
Boston Univ. School of Law Working Paper No. 09-18

Abstract:     
Do patents behave substantially like property rights in tangible assets, in that they encourage development and innovation? This article notes that historical evidence, cross-country evidence, economic experiments, and estimates of net benefits all indicate that general property rights institutions have a substantial direct effect on economic growth. Conversely, with a few important exceptions like chemicals and pharmaceuticals, empirical evidence indicates that intellectual property rights have at best only a weak and indirect effect on economic growth. Further, it appears that for public firms in most industries today, patents may actually discourage investment in innovation for fear of winding up on the losing side of a patent fight, and routine injunctive relief from patent protection may contribute to this problem.

Number of Pages in PDF File: 11

Keywords: property, intellectual property, property rights, patent, property law, patent law, Industrial Revolution, economic growth, natural economic experiments, Eastern European economies, Eastern European transition, free-riders, generic drug

JEL Classification: D2, D23, D4, K1, K11, L65, 014, 012, 016, 03, 031, 032, 034, P51

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Date posted: February 20, 2009  

Suggested Citation

Bessen, James E. and Meurer, Michael J., Of Patents and Property. Regulation, Vol. 31, No. 4, Winter 2008-2009; Boston Univ. School of Law Working Paper No. 09-18. Available at SSRN: http://ssrn.com/abstract=1341201

Contact Information

James E. Bessen (Contact Author)
Boston University - School of Law ( email )
765 Commonwealth Avenue
Boston, MA 02215
United States
Research on Innovation ( email )
202 High Head Rd.
Harpswell, ME 04079
United States
617-531-2092 (Phone)
Michael J. Meurer
Boston University - School of Law ( email )
765 Commonwealth Avenue
Boston, MA 02215
United States
617-353-6292 (Phone)
617-353-3077 (Fax)
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