Intellectual property: the law and economics approach
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Analysis of intellectual property, relative to patent law, where economic analysis can draw on an extensive literature concerning the economics of ...
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IntellectualProperty:TheLawandEconomicsApproachRichardA.PosnerThetraditionalfocusofeconomicanalysisofintellectualpropertyhasbeenonreconcilingincentivesforproducingsuchpropertywithconcernsaboutrestrictingaccesstoitbygrantingexclusiverightsinintellectualgoods—thatis,by“propertizing”them—thusenablingtheownertochargeapriceforaccessthatexceedsmarginalcost.Forexample,patentabilityprovidesanadditionalincentivetoproduceinventions,butrequiringthattheinformationinpatentsbepublishedandthatpatentsexpireafteracertaintimelimittheabilityofthepatenteetorestrictaccesstotheinvention—andsoabalanceisstruck.Isitanoptimalbalance?Thisquestion,andthebroaderissueoftradingoffincentiveandaccessconsiderations,hasprovedintractableatthelevelofabstractanalysis.Withtheriseofthelawandeconomicsmovement,thefocusofeconomicanalysisofintellectualpropertyhasbeguntoshifttomoreconcreteandmanage-ableissuesconcerningthestructureandtextureofthecomplicatedpatternofcommonlawandstatutorydoctrines,legalinstitutionsandbusinesspractic...
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