Author(s)
Kaz Miyagiwa
Source
ISER Discussion Paper No. 703, 2007
Summary
This paper asks if patent law in the United States should be the same as that in other countries.
Policy Relevance
United States patent law is different from laws in other countries, and some argue the rules should be harmonized. But some of the U.S. Rules might be better for innovation than the rules overseas.
Main Points
- The rule in the United States is that a patent is awarded to the first applicant who actually invented a technique. Other countries award the patent to the first applicant who filed a patent.
- Economic theory shows that two competing firms are more likely to perfect their invention before patenting under the first-to-invent rule. They tend to spend more on research and development.
- The real world might work somewhat differently. But the United States should consider the possibility that its rule benefits innovation more.
