On Patent 'Monopolies': An Economic Re-Appraisal
Antitrust Chronicle, Spring 2017
5 Pages Posted: 3 May 2017
Date Written: April 1, 2017
In exchange for public disclosure, the patent system gives a successful patent applicant the right to exclude others from using the patented technology without permission for a period of time (in the U.S., currently 20 years from application). A series of older cases refer to this exclusivity as a “patent monopoly.” The questions we address in the current article are: to what extent is the “patent monopoly” language useful? To what extent is it misleading? What are its virtues and limitations?
Keywords: patent, intellectual property rights, antitrust
JEL Classification: K21, O34
Suggested Citation: Suggested Citation