Kieff, F. Scott --- "On the Economics of Patent Law and Policy" [2009] ELECD 236; in Takenka, Toshiko (ed), "Patent Law and Theory" (Edward Elgar Publishing, 2009)

Book Title: Patent Law and Theory

Editor(s): Takenka, Toshiko

Publisher: Edward Elgar Publishing

ISBN (hard cover): 9781845424138

Section: Chapter 1

Section Title: On the Economics of Patent Law and Policy

Author(s): Kieff, F. Scott

Number of pages: 63

Extract:

1 On the economics of patent law and policy
F. Scott Kieff 1



1 Introduction
Although important literatures explore patent systems from various perspec-
tives, such as morality, gender, race, etc., most patent systems in most indus-
trialized nations are heavily influenced by some version of a utilitarian law
and economics perspective.2 These law and economics approaches generally
are in agreement in seeing the patent system as a tool for achieving some
particular goals; but generally disagree on the goals, as well as whether patents
are effective in achieving those goals.
This chapter explores some of the major law and economic approaches to
patents. In particular, it examines the different policy goals these approaches
advance and the major areas of significant conflict in contemporary policy
debates about patents. The basic theme is that enforcing patents as property
rights can improve the socially constructive coordination that facilitates the
complex process of commercializing innovation thereby improving both
access and competition. By contrast, avoiding property treatment can facilitate
the socially destructive coordination among large players employing a
`keiretsu' strategy of anticompetitive collusion.3



1 F. Scott Kieff runs the Hoover Project on Commercializing Innovation, which
studies the law, economics, and politics of innovation, and is available at www.inno-
vation.hoover.org. Comments are welcome at [e-mail].
2 See, e.g., Justin Hughes, The Philosophy of Intellectual Property, 77 GEO. L.J.
287 (1988). For a discussion of the intellectual history of patents with a focus on the
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