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The New Palgrave Dictionary of Economics pp 10083–10091Cite as

Palgrave Macmillan

Patents

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Abstract

A patent is the legal right of an inventor to exclude others from making or using a particular invention. This right is sometimes termed an ‘intellectual property right’ and is viewed as an encouragement for innovation. This article gives a brief history of patenting, and discusses the legal and administrative process for obtaining a patent in the major world jurisdictions. Evidence on patent effectiveness in encouraging innovation is surveyed, and the article concludes with a discussion of the use of patent data in economic analysis.

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  1. http://link.springer.com/referencework/10.1057/978-1-349-95121-5

    Bronwyn H. Hall

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  1. Bronwyn H. Hall
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Hall, B.H. (2018). Patents. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95189-5_1393

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