Theory for Patent Protection
1. Constitution: Helps us understand the incentive basis for patents. Worried people won’t create intellectual property w/o property rights.
2. Trade Secret Law: Patent protection is a necessary response to trade secret law by giving inventors a reason to not use TS law and announce to the world what your invention is.
a. Let others benefit from invention.
b. Avoids duplicative research.
3. Competitor Incentives: Not trying to focus on rewarding the inventor, but trying to take some things and put them off limits to rivals to get rivals to work harder to come up with new ideas.
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