Accession Number:

AD0633336

Title:

A WORD ON OPTIMAL PATENT LIFE,

Descriptive Note:

Corporate Author:

RAND CORP SANTA MONICA CALIF

Personal Author(s):

Report Date:

1966-05-01

Pagination or Media Count:

9.0

Abstract:

A variable patent policy is not a panacea for lagging industrial research. It is unlikely that the implementation of such a program will increase the amount of basic research done by industry. Such a policy only stimulates that research which firms believe will produce a product which is marketable and patentable it does so by promising to the firm capable of doing the R and D the full recovery of all R and D costs plus some incentive profit. In accomplishing this, it minimizes the undesirable effects which accompany the monopolistic position provided by a patent. In short, it reduces the social costs of stimulating research while it reaps many of the social benefits from research that might be foregone under a fixed patent life policy. Author

Subject Categories:

  • Administration and Management
  • Economics and Cost Analysis
  • Government and Political Science

Distribution Statement:

APPROVED FOR PUBLIC RELEASE