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IntellectualProperty:TheLawandEconomicsApproachRichardA.PosnerThetraditionalfocusofeconomicanalysisofintellectualpropertyhasbeenonreconcilingincentivesforproducingsuchpropertywithconcernsaboutrestrictingaccesstoitbygrantingexclusiverightsinintellectualgoods—thatis,by“propertizing”them—thusenablingtheownertochargeapriceforaccessthatexceedsmarginalcost.Forexample,patentabilityprovidesanadditionalincentivetoproduceinventions,butrequiringthattheinformationinpatentsbepublishedandthatpatentsexpireafteracertaintimelimittheabilityofthepatenteetorestrictaccesstotheinvention—andsoabalanceisstruck.Isitanoptimalbalance?Thisquestion,andthebroaderissueoftradingoffincentiveandaccessconsiderations,hasprovedintractableatthelevelofabstractanalysis.Withtheriseofthelawandeconomicsmovement,thefocusofeconomicanalysisofintellectualpropertyhasbeguntoshifttomoreconcreteandmanage-ableissuesconcerningthestructureandtextureofthecomplicatedpatternofcommonlawandstatutorydoctrines,legalinstitutionsandbusinesspractic...