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The 2011 America Invents Act: Does it Undermine Innovation?

Kaz Miyagiwa

Journal of Economics & Management Strategy, 2015, vol. 24, issue 2, 211-227

Abstract: With the 2011 America Invents Act, the United States discarded its century‐old first‐to‐invent patent‐awarding system in favor of a first‐to‐file rule. Critics have argued that the first‐to‐file rule rewards speed in patent applications rather than creativity, thereby undermining innovation. We evaluate this concern within a dynamic model of a patent race, and find first‐to‐invent (weakly) more conducive to innovation than first‐to‐file. Defending prior users’ rights can promote both pro‐ and anti‐R&D effect of a switch to first‐to‐file.

Date: 2015
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