By Adam B. Jaffe, Josh Lerner, Scott Stern
The commercial significance of leading edge job brings with it an lively debate on public policy's influence at the innovation strategy. This annual sequence, backed via the nationwide Bureau of financial study, brings the paintings of prime educational researchers to the wider coverage neighborhood. quantity 6 considers such subject matters because the range of patent defense and the consequences of vulnerable patents for innovation and festival; reforms in U.S. patent coverage that might motivate innovation; the multifaceted merits of the web for shoppers, together with fee festival and novel varieties of conversation; the drug improvement and approval procedure; the "offshoring" of analysis and improvement; and the benefits of industry-specific stories of the connection among innovation and festival. The papers spotlight the function financial idea and empirical research can play in comparing present and potential innovation coverage choices.
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Additional resources for Innovation Policy and the Economy (NBER Innovation Policy and the Economy, Volume 6)
1999) examined this abuse of confidential information problem and the impact of organizational and ownership structure on the amount of abuse. , a consulting client) cannot monitor the misuse. Misuse is anticipated by the client and is reflected in a lower fee. The firm’s choice of an employee incentive structure moderates but does not generally eliminate an employee’s incentive to misuse proprietary information. High-powered (strongly performance-based) incentives for employees increase the extent to which proprietary information is (mis)used by employees, so firms that need to reduce misuse of information decouple performance from pay.
Advances in the Study of Entrepreneurship, Innovation, and Economic Growth. Vol. 15: 261–304. , and D. Yao. 1994. ” American Economic Review 84: 190–209. , and D. Yao. 1995. ” Journal of Law, Economics, & Organization 11: 362–378. , and D. Yao. 2002. ” Review of Economic Studies 69: 513–531. , and D. Yao. 2003. ” Journal of Economics & Management Strategy 12: 151–178. , and D. Yao. 2004. ” RAND Journal of Economics 35: 1–22. , and D. Yao. 2005. ” Journal of Law, Economics, & Organization forthcoming.
The sand in the gears of the innovation machine is that companies and individuals must constantly fear that their research and product development may come to naught, because someone is going to assert an as-yet unknown or untested patent against them. Further, when such an assertion of patent infringement is made, the uncertainty about the ability to defend against that assertion often leads either to abandonment of the allegedly infringing technology, or to an agreement to pay possibly unnecessary royalties.