In the shadow of giants
AbstractIntellectual giants provide broad shoulders for subsequent inventors. Their unfinished inquiry, however, also casts shadow on the prospect of future research. This paper incorporates this shadow effect into a two-stage innovation process and shows that patenting the first-stage result (the basic invention) may enhance the second-stage innovation. It is optimal to reject patent protection to the basic invention only when this beneficial effect does not arise, and when it is essential to preserve the pioneering inventor's incentive to continue research activities.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 37033.
Date of creation: Feb 2012
Date of revision:
Cumulative Innovation; Patentable Subject Matter; Probabilistic Patents; Search; Shadow Effect;
Find related papers by JEL classification:
- O34 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Intellectual Property and Intellectual Capital
- O31 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
- K39 - Law and Economics - - Other Substantive Areas of Law - - - Other
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-03-08 (All new papers)
- NEP-INO-2012-03-08 (Innovation)
- NEP-IPR-2012-03-08 (Intellectual Property Rights)
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