The Interconnections between Entrepreneurship, Science, and the Patent System
31 Pages Posted: 30 Jan 2017
Date Written: January 27, 2016
The recognition that innovation drives the creation of new knowledge is both significant and an underappreciated aspect of patent theory. A full assessment of the impact of this most recent trend in patent law cannot be performed without examining the relationships between science, the patent system, and innovation within a more realistic context. To do so, the system must loosen its hold on the linear mode, which prescribes that basic science leads to invention, which leads to innovation in that order. Rather, the interaction between science, patents and innovation is complicated, nuanced, and chaotic. More broadly, these insights allow us to think about the patent system in ways that do not echo the traditional narrative that places science and innovation at the opposite ends of a continuum. As a practical matter, this more realistic framework suggests that recent shifts in patent law can do much to foster entrepreneurial creativity. The innovation that flows from this work can, in turn, operate in ways that can ultimately drive more scientific inquiry.
Keywords: patent, innovation, scientific creativity, discovery, history of invention
JEL Classification: O3
Suggested Citation: Suggested Citation