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[News] Intellectual Monopolies Attacked by Economists

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Yet Another Study Shows How Patents Create Suboptimal Innovation

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| [O]nce again, the study found that a free market solution greatly outperforms 
| a patent monopoly solution where the "first" provider gets a monopoly. The 
| research was led by economist Peter Bossaerts and a team of others -- and it 
| made a point that won't surprise anyone who's studied the economics of 
| monopolies. Patents tend to function just like any other monopoly system: it 
| shrinks the overall market, decreases net social benefit, provides 
| monstrously excess rewards to a single provider and harms everyone else. In 
| fact, the research found that the patent system created a massive 
| disincentive for many people to participate in the very process, even if 
| their contributions could have been quite helpful in speeding along the 
| innovation.          


Markets outperform patents in promoting intellectual discovery, say economists

,----[ Quote ]
| When it comes to intellectual curiosity and creativity, a market economy in 
| which inventors can buy and sell shares of the key components of their 
| discoveries actually beats out the winner-takes-all world of patent rights as 
| a motivating force, according to a California Institute of Technology 
| (Caltech)-led team of researchers.     



WIPO patent committee embarks on positive agenda

,----[ Quote ]
| The fact that the WIPO patent committee has decided to request the
| International Bureau studies on “exceptions from patentable subject matter
| and limitations to the rights, inter alia research exemption and compulsory
| licenses” and “patents and standards” is testament that the WIPO of 2008 is
| not the WIPO that invoked “Intellectual Property as a Power tool for
| Development”.
| Here below is the Annex to the Summary by the Chair which lists the eighteen
| non-exhaustive list of issues for further elaboration and discussion in the
| future. This list includes such topics as “Economic impact of the patent
| system, Alternative models for innovation, Patents and health (including
| exhaustion, the Doha Declaration and other WTO instruments, patent
| landscaping) and Relation of patents with other public policy issues.”


Open Parliament

,----[ Quote ]
| In private a government delegate compared
| Microsoft's public affairs methods with the scientology cult.


Intellectual Property Regime Stifles Science and Innovation, Nobel Laureates

,----[ Quote ]
| Patent monopolies are believed to drive innovation but they actually impede
| the pace of science and innovation, Stiglitz said. The current “patent
| thicket,” in which anyone who writes a successful software programme is sued
| for alleged patent infringement, highlights the current IP system’s failure
| to encourage innovation, he said.
| Another problem is that the social returns from innovation do not accord with
| the private returns associated with the patent system, Stiglitz said. The
| marginal benefit from innovation is that an idea may become available sooner
| than it might have. But the person who secures the patent on it wins a
| long-term monopoly, creating a gap between private and social returns.

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