OPTIMAL PATENT PROTECTION AND EXPECTED UTILITY MODEL: A TRANSITION ECONOMY EXAMPLE

Ibrahim Niftiyev

doi:10.51582/interconf.21-22.05.2021.002

Abstract

This paper aims to critically appraise optimal patent protection using the expected utility model from the perspectives of governments to balance the motivation and social use of the intellectual property. In order to achieve this aim, the report has presented the working mechanism of governments towards patent protection; use of utility model by governments; past and present academic investigations on the topic; strategizing behavior of governments towards patents and as a brief example, a case of the transition economy. The expected utility model has provided an effective and efficient framework for the development of patent strategy by governments. The essay has noted that due to the differences between industries and their dynamics, it is expected that diverse patent regimes should be followed to balance the social utility and economic utility of the economic actor to engage in research and development.

Highlights

The question surrounding balancing motivation to innovate and its social use have played a critical role in the development and deployment of government policies surrounding intellectual property [1]
Drawing upon Varian (2014), despite the modest rise in the research and development budget allocation across the globe, there has been a significant rise in patent applications across the developed, emerging, and developing national economies [2]. This patent surge has pointed out that the dynamics of optimal patent protection along with their expected utility has changed over the recent decades
This paper aims to critically appraise optimal patent protection using the expected utility model from the perspectives of THEORY AND PRACTICE OF SCIENCE: KEY ASPECTS

Summary

Introduction

The question surrounding balancing motivation to innovate and its social use have played a critical role in the development and deployment of government policies surrounding intellectual property [1]. The role of the government is to understand the expected utility of all the economic actors that are involved in the development of innovation and creativity, which in turn should result in the optimization of the patent protection strategy.

Objectives

Results

Conclusion