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Intellectual Property 2.0: The Role of Patents in Investment and Collaboration . George Barker Centre for Law and Economics Australian National University. Background. OECD is working on an Innovation Strategy designed,

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george barker centre for law and economics australian national university

Intellectual Property 2.0:The Role of Patents in Investment and Collaboration

George Barker

Centre for Law and Economics

Australian National University

CIPC and ICC- BASCAP

background
Background
  • OECD is working on an Innovation Strategy designed,

“to foster economic growth and to tackle the major global and social challenges of our time: persistent poverty, unemployment, climate change, water management, and health care, especially as our populations age.”

  • The OECD has created a website with relevant resources on the strategy which is directly accessible at www.oecd.org/innovation/strategy. /0,3343,en_2649_37417_42982163_1_1_1_1,00.html

CIPC and ICC- BASCAP

background1
Background
  • The OECD’s Innovation Strategy aims to develop:
    • A set of principles that spans across the entire policy arena (whole of government approach) on governance systems for promoting innovation and assessing its impact.
    • A framework for dialogue and review at the national and international levels.
    • Thematic, country and cross-country analyses and best practices. Conclusions will focus on methods for effective promotion, reporting, measurement and assessment of innovation.
    • An Innovation Performance Scoreboard.
    • A list of best practices and recommendations for a coherent policy approach to tackle global challenges such as climate change.

CIPC and ICC- BASCAP

background2
Background
  • Although the OECD’s Interim report correctly acknowledges that

“innovation entails investment aimed at producing new knowledge and using it in various applications”,

it fails to emphasize the critical role of intellectual property rights in encouraging not only investment in new knowledge but also in collaboration in the knowledge eco-system.

  • There is indeed only one passing reference to intellectual property rights in the entire report

CIPC and ICC- BASCAP

background3
Background
  • The one passing reference to intellectual property rights in the OECD’s Interim report occurs at the end of the discussion of knowledge markets, where it is noted that:

“Steering markets toward innovation and attracting outside investment also depends on an effective and balanced intellectual property regime.”

  • Perhaps inadvertently, the impression one gets from the report overall is that, while innovation “also depends” on IPR, IPR may not be a significant factor. Moreover, little guidance is given on what “an effective and balanced intellectual property regime” might look like.

CIPC and ICC- BASCAP

background4
Background
  • The OECD tends instead to emphasizes the fact that recent trends have led to

“increased specialisation, within the value chain, increased collaboration and partnering, and the growth of knowledge markets”

  • involving

“new forms of knowledge sharing and exchange between firms, individuals and institutions”

  • Yet as we shall see knowledge markets like traditional markets need property rights to function.

CIPC and ICC- BASCAP

background5
Background
  • This gap in analysis is consistent with related academic work
  • For example in September 2008 a group chaired by Richard Gold of McGill University released a report entitled “Toward a New Era of Intellectual Property: From Confrontation to Negotiation”
  • Lets call it “The Gold Report”
  • Seehttp://www.theinnovationpartnership.org/data/ieg/documents/report/TIP_Report_E.pdf (last accessed 1 July 2009)

CIPC and ICC- BASCAP

the gold or mcgill report
The Gold or McGill Report
  • It describes the current IPR regime as “Old IP” claiming that it has:
    • “hampered access to new goods and services by those who need it most.”p16
    • “hampered business innovation” p29”
    • “proved counterproductive to industry, which has in health fields seen declining levels of innovation” p7
    • “proved counterproductive to the world’s poor” p7 and
    • ‘never really been about creating new inventions’ p28

CIPC and ICC- BASCAP

economic theory the effects of ipr
Economic Theory & The Effects of IPR
  • The “Classic” Investment Effect – mid late 1960’s
    • Free Riders, Under-investment & Exclusion
    • Harold Demsetz Information and Efficiency 1969 J.L. & ECON.
  • The Contractual Effect - and Collaboration
    • Heller ‘s & Eisenberg’s “Anti-commons” Thesis
    • Epstein and Buchanan response
    • Kitch’s ‘prospect theory’ 1977
    • Kief’s “Beacon and Bargain theory” (2007) YALE L.J. POCKET PART

CIPC and ICC- BASCAP

June 22 2010

empirical evidence
Empirical Evidence
  • In a general review of the role of intellectual property in innovation, Ove Granstrand has concluded:

“In summary, IPRs, particular patents, play several important roles in innovation systems – to encourage innovation and investment in innovation, and to encourage dissemination (diffusion) of information about the principles and sources of innovation throughout the economy. However … the importance of these roles varies across sectors (industries) and countries, and over time”

The Oxford Handbook of Innovation, Oxford University Press, 2005

CIPC and ICC- BASCAP

June 22 2010

conclusion

Conclusion

Economic Theory generally predicts IPR will increase R&D, innovation and economic Growth

Empirical Evidence is supports this result

The key need is for further empirical work

CIPC and ICC- BASCAP

June 22 2010