Imitation, patent protection and welfare
نویسندگان
چکیده
Once a new technology has been invented, there is a credible threat of imitation when patent protection is strong and imitation cost is low. Within the area of credible imitation, the innovator has an incentive to postpone technology adoption when the cost of imitation is relatively high. The possibility of licensing, however, eliminates or at least reduces the incentive for delayed technology adoption and may increase or decrease social welfare. Further, this paper explains the possibility of a forward contract on licensing.
منابع مشابه
Working Paper Department of Economics Sequential Innovation, Patents, and Imitation
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