A Word on Optimal Patent Life.

Fred D. Arditti

Expert InsightsPublished 1966

An argument against the present fixed patent life policy. The author suggests that an optimal patent policy would be a variable patent life, i.e., a length of time that allowed the patentee the return necessary to embark upon the research project and no more. Such a patent policy would minimize the divergence between social costs and social benefits due to an excessive patent life; at the same time it would prevent the loss of social benefits due to a too modest patent life. Calculations for an optimal patent life under both certain and uncertain conditions are presented. 10 pp.

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Arditti, Fred D., A Word on Optimal Patent Life. Santa Monica, CA: RAND Corporation, 1966. https://www.rand.org/pubs/papers/P3369.html.
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