ISER Discussion Paper, Institute of Social and Economic Research, Osaka University 703
The U.S. has been under pressure to abandon the unique first-to-invent feature of its patent law for awarding patents. The opposition to reform however argues that switch to a first-to-file rule, the international norm, will undermine innovation. We evaluate this argument in a dynamic stochastic model of a patent race. The result generally supports the opposition's argument.
first-to-file first-to-invent patent law harmonization innovation U.S. patent law