New scientific knowledge sometimes remains underutilized as compared to its technological potential. We examine two views of the process of science-based invention at the level of the knowledge-producing organization. In one, widespread access to the new scientific knowledge is crucial, and the academic environment therefore fosters invention. In the other, control is paramount and scientific r...

The fundamental idea of patent systems is to protect inventors who have invested resources during the development of their invention. Patent trolls abuse these systems by filing obvious patents with significantly less cost and usually without the intention to produce or offer the invention. Instead, patent trolls sue other companies that allegedly violate their obvious patents. We propose a met...

Patents give the owner exclusive rights in an effort to prevent or stop other parties from making, using, offering for sale, selling importing a product process, based on patented invention, without permission of patent owner. are "powerful business tool" companies gain exclusivity new products processes, establish strong market positions and generate additional revenue through licensing. A tha...

The increasingly strategic use of patents, and their importance for competitive advantage, pose special challenges for small high-tech firms. This paper seeks to add to our understanding of the strategic and economic effects of patents by exploring why small high-tech firms take out patents – and why not – and how these choices are linked to these firms’ broader business and technology strategi...

Most patents covering dermatologic products contain patent claims directed to the pharmaceutical formulation of the product. Such patents, known as formulation patents, are vulnerable to attacks based on the legal argument that the formulations covered are obvious over formulations already known prior to the filing of the patent application. Because obviousness is an important concept in patent...

Patents di®er from other forms of intellectual property in that independent invention is not a defense to infringement. We argue that the patent rule is inferior in any industry where the cost of independently inventing a product is not too much less than (no less than half) the inventor's cost. First, the threat of entry by independent invention would induce patentholders to license the techno...

Patents differ from other forms of intellectual property in that independent invention is not a defence to infringement. We argue that the patent rule is inferior in any industry where the cost of independently inventing a product is not too much less than (no less than half) the inventor’s cost. First, the threat of entry by independent invention would induce patent holders to license the tech...