Rational Ignorance at the Patent Office

@article{Lemley2001RationalIA,
  title={Rational Ignorance at the Patent Office},
  author={Mark A. Lemley},
  journal={Northwestern University Law Review},
  year={2001},
  volume={95},
  pages={1495}
}
  • Mark A. Lemley
  • Published 1 February 2001
  • Economics
  • Northwestern University Law Review
It is common to assert that the Patent and Trademark Office does a bad job of examining patents, and that it should spend more time and money weeding out bad patents. In this article, Professor Lemley challenges that conventional wisdom. Using available data regarding the cost and incidence of patent prosecution, litigation, licensing and other uses of patents, he demonstrates that strengthening the examination process is not cost effective. The core insight is that very few patents are… 
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This paper studies the puzzle of what caused the surge in US patenting in the 1980s. I first argue that, under the standard view of patents, where value depends only on the appropriable rents created
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We propose a model that integrates a series of events regarding patent rights based on real option framework. After the incumbent has acquired a patent, it can be infringed by the challenger, and the
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CPC 04-46 Probabilistic Patents
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
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References

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