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Apr 30, 2015 · Abstract. Patents have long been considered essential incentives to foster innovation, particularly the development of new prescription drugs, due to the lengthy, costly, and risky nature of the research and development (R&D) process as compared to the lower levels of investment and risk associated with generic drug entry.
- Iain Cockburn, Genia Long
- 2015
The patent system is one of the main instruments governments use to increase research and development incentives, while at the same time promoting follow-on innovation. However, there is growing concern among academic scholars and policy makers that patent rights are themselves becoming an impediment, rather than an incentive, to innovation.
Abstract. This chapter investigates the rationale of patents, their economic role, and the circumstances in which they are the most effective. The utilitarian theory considers patents as an incentive — a policy instrument used by society for encouraging inventions.
May 10, 2017 · Patents are such a familiar and widely admired innovation incentive that policymakers could easily forget that they have a choice. But society actually uses many different methods to promote R&D, including prizes, grants, contract research, and, most recently, open source initiatives.
Aug 20, 2023 · We’re also told we grant patents to “incentivise” (encourage and reward) the kind of work needed to get expensive products, like new drugs, to market. But again, this theory doesn’t always ...
Innovation takes a variety of forms, and patents are just one of several tools that policymakers use to encourage innovation. Let’s look at the alternatives to better understand why patents exist. Rino Rappuoli (Italy), next-generation vaccines against meningitis, whooping cough and other infections. Some of the greatest inventions or spurs ...
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Jan 31, 2024 · Patents are an important aspect in setting global trade policies. Through the protection of innovation, they ensure that firms can move to global markets without fear, hence increasing their competitiveness in the global arena. In addition, this influences dynamics as well of international trade.
