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in return for the disclosure of the invention.[1] The underlying assumption being innovation is encouraged because an inventor can secure exclusive rights, and therefore a higher probability of financial rewards in the market place. The publication of the invention is mandatory to get a patent. Keeping the same invention as a trade secret, rather than disclose by publication, could prove valuable well beyond the time of any limited patent term, but at the risk of congenial invention through third party.
Contents
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1 Economic benefits 2 Macroeconomic perspective 3 Microeconomic perspective 4 Patent valuation 5 See also 6 Notes and references 7 External links
Some research suggests rather than encouraging innovation, patents can hinder development, lower R&D investments, and decrease overall economic output.[2] In these models, collaboration and information sharing has a strong impact on new product development and innovation.
a patented product (and the underlying patent) that has not actually been produced, let alone sold in any quantity? Furthermore, many products incorporate numerous patented inventions (owned or licensed), and may carry exclusive trademarks, making it difficult to attribute a specific value to an individual patent. Would the same invention be as valuable if owned and marketed under a weak brand? In 2005, the European Commission published a comprehensive study of the value of patents for patent owners as well as for the European economy. The title of the survey was Study on Evaluation the Knowledge Economy What are Patents Actually Worth? Ref. The study was in part based on a survey of 20,000 patent owners who filed EPO patents between 1993 and 1997. The survey was performed in 2003. 9000 patent owners responded. The patent owners were asked how much effort was required to produce their inventions and how much monetary value their patents had been worth. The median effort to create the patentable invention was 1 person-year, with 10% of the patent owners requiring 2 or more person-years. The median value of the patents produced was 300,000, with 10% of patent owners reporting values of 10 million Euros or more.