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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