Probabilistic Patents

@article{Lemley2005ProbabilisticP,
  title={Probabilistic Patents},
  author={Mark A. Lemley and C. Shapiro},
  journal={Law \& Economics},
  year={2005}
}
Economists often assume that a patent gives its owner a well-defined legal right to exclude others from practicing the invention described in the patent. In practice, however, the rights afforded to patent holders are highly uncertain. Under patent law, a patent is no guarantee of exclusion but more precisely a legal right to try to exclude. Since only 0.1% of all patents are litigated to trial, and since nearly half of fully litigated patents are declared invalid, this distinction is critical… Expand
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