Patent policy and innovation

Ruchi Sharma

Chapter 47 in Elgar Encyclopedia on the Economics of Knowledge and Innovation, 2022, pp 381-388 from Edward Elgar Publishing

Abstract: Patent policy gained institutional framework during the middle ages with the growth of technology and trade. The first patent code by the Venetian Senate in 1474 laid the foundation for modern patent laws. The theoretical underpinning in economics developed later with the concept of marginalism. This chapter surveys benefits and costs of patent policy in incentivizing innovation and underscores that there is no straightforward answer, as the net impact of the patent protection on innovation is conditioned by different factors. Lastly, it points at the possible future direction for empirical research.

Keywords: Business and Management; Economics and Finance; Innovations and Technology (search for similar items in EconPapers)
Date: 2022
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