Academic Commons

Articles

Don't Assume a Can Opener: Confronting Patent Economic Theories with Licensing and Enforcement Reality

Greenspoon, Robert P.; Cottle, Catherine M.

Many different kinds of entities use the United States patent system, from individual inventors, to start-ups, to patent assertion entities, to massive operating companies. Meanwhile, "reward theory," "prospect theory," and "commercialization theory" are three theories intended to explain the justifications for, or social costs and benefits of, a patent system. Yet each theory barely acknowledges what goes on during actual patent acquisition, licensing or enforcement, such as transaction costs and litigation uncertainties. This article considers prior economic analyses of the patent system in this new light — patent economic theories, compared against the types of patent-using entities, compared against the costs and uncertainties of patent acquisition, licensing and enforcement.

Files

Also Published In

Title
Columbia Science and Technology Law Review

More About This Work

Academic Units
Law
Published Here
June 6, 2011
Academic Commons provides global access to research and scholarship produced at Columbia University, Barnard College, Teachers College, Union Theological Seminary and Jewish Theological Seminary. Academic Commons is managed by the Columbia University Libraries.