The Economic Value of Patents, Licenses, and Plant Variety Protection(1996)
AbstractWhile biotechnology creates new opportunities for agriculture, developments are impeded by confusion in the system for awarding intellectual property rights (IPRs) over agro-biotechnological innovations. An intelligent redesign of the IPR system requires attention to how the definition of rights interacts with the market environment, generating incentives to create value. A distinction is drawn between cost-reducing innovations that increase the efficiency of producing homogeneous outputs and value-adding innovations that create entirely new types of differentiated outputs. A reform is proposed that would require the mandatory sublicensing of genes and certain core enabling technologies for creating genetically altered organisms.
- intellectual property,
- market structure
Publication DateJune 1, 1996
Citation InformationGordon C. Rausser and Arthur A. Small. "The Economic Value of Patents, Licenses, and Plant Variety Protection" (1996)
Available at: http://works.bepress.com/arthursmalliii/2/