Chapter

The Industry-Specific Nature of the Patent System

in The Patent Crisis and How the Courts Can Solve It

Published by University of Chicago Press

Published in print May 2009 | ISBN: 9780226080611
Published online March 2013 | e-ISBN: 9780226080635 | DOI: http://dx.doi.org/10.7208/chicago/9780226080635.003.0005
The Industry-Specific Nature of the Patent System

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This chapter investigates each of the industry-specific characteristics of the patent system. Industry-specific variation affects which companies choose to apply for patents, how many patents they apply for, and how much effort they put into those patents. The value of a patent in encouraging R&D will vary depending on how much protection that patent gives to products that are sold for revenue in the real world. The most important issues in a patent case depend on the industry in which the case is filed. The overall “patent premium”—the value patent ownership contributes to a company's market value—is modest but positive. Innovation occurs differently among different industries and that those differences extend to the way in which industry players experience every stage of that system.

Keywords: patent system; R&D; protection; industry; patent premium; patent ownership; market value; innovation

Chapter.  7195 words. 

Subjects: Intellectual Property Law

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