A Patent System for the 21st Century
19 Apr 2004
Stephen A. Merrill, Richard C. Levin, and Mark B. Myers, Editors, Committee on Intellectual Property Rights in the Knowledge-Based Economy, National Research Council
Patents on novel, useful inventions - and copyrights on works of art,literature, and other forms of expression - are issued on the assumption that although firms and individuals have many incentives to create,some innovations are more likely to be forthcoming and attract investment if inventors are granted exclusive ownership rights. These rights give inventors opportunities to recoup initial investments by temporarily impeding imitators. In exchange for periods of exclusivity, inventors must disclose the knowledge underlying their creations - knowledge that may in turn lead to further innovation. The committee - made up of experts in areas such as biotechnology, intellectual-property law, engineering, business management, pharmaceuticals, and telecommunications - recommended several measures to maintain the patent system's strength in some areas, or to enhance it in others.
Publisher: National Academies Press
Availability: http://books.nap.edu/catalog/10976.html
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