Innovation and its Discontents: How Our Broken Patent System is Endangering Innovation and Progress, and What to Do About it by Josh A. Lerner, Adam B. Jaffe (Paperback, 2006)
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- DescriptionThe United States patent system has become sand rather than lubricant in the wheels of American progress. Such is the premise behind this provocative and timely book by two of the nation's leading experts on patents and ecomic invation. Invation and Its Discontents tells the story of how recent changes in patenting--an institutional process that was created to nurture invation--have wreaked havoc on invators, businesses, and ecomic productivity. Jaffe and Lerner, who have spent the past two decades studying the patent system, show how legal changes initiated in the 1980s converted the system from a stimulator of invation to a creator of litigation and uncertainty that threatens the invation process itself. In one telling vignette, Jaffe and Lerner cite a patent litigation campaign brought by a a semi-conductor chip designer that claims control of an entire category of computer memory chips. The firm's claims are based on a modest 15-year old invention, whose scope and influenced were broadened by secretly manipulating an industry-wide cooperative standard-setting body. Such cases are largely the result of two changes in the patent climate, Jaffe and Lerner contend. First, new laws have made it easier for businesses and inventors to secure patents on products of all kinds, and second, the laws have tilted the table to favor patent holders, matter how tenuous their claims. After analyzing the ecomic incentives created by the current policies, Jaffe and Lerner suggest a three-pronged solution for restoring the patent system: create incentives to motivate parties who have information about the velty of a patent; provide multiple levels of patent review; and replace juries with judges and special masters to preside over certain aspects of infringement cases. Well-argued and engagingly written, Invation and Its Discontents offers a fresh approach for enhancing both the nation's creativity and its ecomic growth.
- Author BiographyAdam B. Jaffe is Professor of Economics and Dean of Arts and Sciences at Brandeis University. He is the author, with Manuel Trajtenberg, of Patents, Citations, and Innovations: A Window on the Knowledge Economy . Josh Lerner is Jacob H. Schiff professor of Investment Banking at Harvard Business School, with a joint appointment in the Finance and the Entrepreneurial Management Units. His books include The Money of Invention .
- Author(s)Adam B. Jaffe,Josh A. Lerner
- PublisherPrinceton University Press
- Date of Publication18/12/2006
- SubjectNational Law: Professional
- Place of PublicationNew Jersey
- Country of PublicationUnited States
- ImprintPrinceton University Press
- Content Note14 line illus.
- Weight342 g
- Width152 mm
- Height229 mm
- Spine13 mm
- Format DetailsTrade paperback (US)
- Edition StatementRevised edition
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