The Nature and Function of the Patent system

Name: The Nature and Function of the Patent system
Cite: 20 J.L. and Econ. 265
Year: 1977
Bluebook cite: Edmund W. Kitch, The Nature And Function Of The Patent System, 20 J.L. and Econ. 265 (1977)
Author: Edmund W. Kitch
URL: http://heinonline.org.www.libproxy.wvu.edu/HOL/Page?collection=journals&handle=hein.journals/jlecono20&id=269
Item Type: article
Summary: The nature and function of the patent system has been explored to explain the performance of the patent system as a function. The patent system performs a function to increase the output from resources used for technological innovation. Consideration of the prospect function suggests that patents facing competition from alternative approaches to the technological and market problem may in fact be the important class. The property rights in information has been defined. The frequency of interferences within the patent system indicates that the problem of duplicative search is not a negligible one in the development of technology.

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