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Parallel Research, Multiple Intellectual Property Right Protection Instruments, and the Correlation among R&D Projects

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Abstract

The choice of a research path in attacking scientific and technological problems is a significant component of firms' R&D strategy. One of the findings of the patent races literature is that, in a competitive market setting, firms' noncooperative choices of research projects display an excessive degree of correlation, as compared to the socially optimal level. The paper revisits this question in a context in which firms have access to trade secrets, in addition to patents, to assert intellectual property rights (IPR) over their discoveries. We find that the availability of multiple IPR protection instruments can move the paths chosen by firms engaged in an R&D race toward the social optimum.

Suggested Citation

  • Harun Bulut & GianCarlo Moschini, 2005. "Parallel Research, Multiple Intellectual Property Right Protection Instruments, and the Correlation among R&D Projects," Center for Agricultural and Rural Development (CARD) Publications 05-wp404, Center for Agricultural and Rural Development (CARD) at Iowa State University.
    • Handle: RePEc:ias:cpaper:05-wp404
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    Cited by:

    1. Bulut, Harun & Moschini, GianCarlo, 2006. "Patents, trade secrets and the correlation among R&D projects," Economics Letters, Elsevier, vol. 91(1), pages 131-137, April.

    More about this item

    Keywords

    intellectual property rights; parallel R&D; patent races.;
    All these keywords.

    JEL classification:

    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights
    • L0 - Industrial Organization - - General

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