Progress of Science and Useful Arts, by Securing for limited Times to Authors and Inventors the exclusive Right to their respective Writings and Discoveries.1 The Constitutional statement above empowered Congress to establish a patent system that would provide for a potential reward for the inventor and, at the same time, provide benefit to society by making full disclosure of the invention. Co...

We build a general equilibrium model in which growth is driven by two invention types: fundamental ideas that cause creative destruction, and derivative ideas that enhance the value of existing inventions. The model provides a new mapping from microeconomic, patent data to aggregate TFP growth and the aggregate value of privately owned knowledge. We show how to measure the frequency of derivati...

We build a general equilibrium model where growth is driven by two invention types: fundamental ideas that cause creative destruction, and derivative ideas that enhance the value of existing inventions. The model provides a new mapping from microeconomic, patent data to aggregate total factor productivity growth and the aggregate value of privately owned knowledge. We show how to measure the fr...

When two inventors file patent applications with overlapping, or “interfering” claims, the U.S. patent rights are awarded to the applicant who establishes priority of invention. Patent interference cases are litigated at the U.S. Patent and Trademark Office’s Board of Patent Appeals and Interferences. The cases offer a unique window into competition between firms in research and innovation. Thi...

Since its invention by Nikola Tesla in 1888, the alternating-current (AC) motor has been a critical driver for the industrial age. One of his original three patents was the wound rotor induction motor (WRIM). Later, Westinghouse refined the design of the wound rotor motor to permit control of the speedtorque characteristics of the machine. This paper discusses a new advancement in Pulse Width M...

The patent system has evolved over many centuries and is considered, by and large, to have successfully promoted innovation. Patents help to stimulate investment in research and development through the provision of a limited monopoly to the inventor, while ensuring full disclosure of the invention to the public. One of the reasons for the long-lasting success of the patent system is its nondisc...

One of the main rationales for existence patent system is to encourage knowledge diffusion through full disclosure technical embodied in a patented invention. Yet, economists and legal scholars cast doubts on validity theory. The empirical evidence actual benefits function remains limited. present paper aims expand our understanding how information spreads via exploits recent improvements machi...

This paper examines the impact of higher education on China's manufacturing industry performance from national and regional levels fixed effects model. The research shows that development has significantly promoted improvement performance. If increases by 1%, will increase 0.239%. Through internal mechanism test, it is found can improve increasing R&D projects, new product projects enterprise i...