International Harmonization of the Patent-Issuing Rules
AbstractWith the America Invents Act of 2011, the U.S. changed its patent-issuing rule from first-to-invent to first-to-file, the international norm. We investigate the effect of such a policy change in a two-country model of R&D competition for two sequential (basic and final) inventions. We find that a switch never speeds up basic research. A delay is more likely especially in industries where the final product generates more value in the U.S. Simulations show that a delay in basic research also retards final invention, decreasing world welfare.
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Bibliographic InfoPaper provided by Institute of Social and Economic Research, Osaka University in its series ISER Discussion Paper with number 0837.
Date of creation: Mar 2012
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Other versions of this item:
- Kaz Miyagiwa & Yuka Ohno, 2012. "International Harmonization of the Patent-issuing Rules," Emory Economics 1203, Department of Economics, Emory University (Atlanta).
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- Lee, Tom & Wilde, Louis L, 1980. "Market Structure and Innovation: A Reformulation," The Quarterly Journal of Economics, MIT Press, vol. 94(2), pages 429-36, March.
- Howard F. Chang, 1995. "Patent Scope, Antitrust Policy, and Cumulative Innovation," RAND Journal of Economics, The RAND Corporation, vol. 26(1), pages 34-57, Spring.
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- Suzanne Scotchmer & Jerry Green, 1990. "Novelty and Disclosure in Patent Law," RAND Journal of Economics, The RAND Corporation, vol. 21(1), pages 131-146, Spring.
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