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A New Design for the Patent System

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  • Sam Meng

    (University of New England)

Abstract

Protection of patents is a double-edged sword—while it encourages innovation it causes deadweight loss due to monopolistic production of patented products. The current approach to minimizing the deadweight loss is a compromised one—providing weak patent protection in order to strike a balance between the positive and negative effects of patent rights. Through a scrutiny of the purpose and mechanism of patent protection, this paper suggests a new design for the patent system. This new design aims to stimulate innovation directly while minimizing deadweight loss.

Suggested Citation

  • Sam Meng, 2019. "A New Design for the Patent System," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 10(3), pages 1204-1229, September.
    • Handle: RePEc:spr:jknowl:v:10:y:2019:i:3:d:10.1007_s13132-018-0530-4
    DOI: 10.1007/s13132-018-0530-4
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    References listed on IDEAS

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    Cited by:

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    2. Xu, Aiting & Song, Miaoyuan & Xu, Shenyi & Wang, Wenpu, 2024. "Accelerated green patent examination and innovation benefits: An analysis of private economic value and public environmental benefits," Technological Forecasting and Social Change, Elsevier, vol. 200(C).

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