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Trade Secret vs. Broad Patent: The Role of Licensing

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Author Info

  • Franco Cugno

    (University of Turin)

  • Elisabetta Ottoz

    (University of Turin, Italy)

Abstract

We present a simple model wherein a patents regime is inferior to a trade secrets system, meaning that when private returns from innovation under the two regimes are the same, society will be better off if the innovator chooses not to patent. In our model, trade secret licensing is envisaged and the inferiority of patents depends on the lack of an independent invention defense in patent law, while such a defense currently exists in secrecy and copyright law. Thus, although secrecy is superior to patents, it is not superior to other types of formal intellectual property rights where independent invention is allowed (such as copyrighted software).

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File URL: http://www.bepress.com/cgi/viewcontent.cgi?article=1069&context=rle
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Bibliographic Info

Article provided by De Gruyter in its journal Review of Law & Economics.

Volume (Year): 2 (2006)
Issue (Month): 2 ()
Pages: 3

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Handle: RePEc:bpj:rlecon:v:2:y:2006:i:2:n:3

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Web page: http://www.degruyter.com

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Web: http://www.degruyter.com/view/j/rle

Related research

Keywords: Patents; Secrets; Licensing; Independent Invention;

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Citations

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Cited by:
  1. Ottoz, Elisabetta & Cugno, Franco, 2010. "Choosing the scope of trade secret law when secrets complement patents," MPRA Paper 20672, University Library of Munich, Germany.
  2. Cugno, Franco & Ottoz, Elisabetta, 2006. "Static inefficiency of compulsory licensing: Quantity vs. price competition," POLIS Working Papers 73, Institute of Public Policy and Public Choice - POLIS.
  3. Giacomo Ponzetto, 2012. "Intellectual Property Rights and Efficient Firm Organization," Working Papers 668, Barcelona Graduate School of Economics.

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