Knowledge disclosure as intellectual property rights protection |
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| Institution: | 1. Stillman School of Business, Seton Hall University, 400 South Orange Avenue, South Orange, NJ 07079, USA;2. Zicklin School of Business, Baruch College-City University of New York, 1 Bernard Baruch Plaza, New York, NY 10010, USA;1. Fox School of Business, Temple University, 1801 Liacouras Walk, 453 Alter Hall, Philadelphia, PA 19122, United States of America;2. College of Business, Texas A&M University-Corpus Christi, 6300 Ocean Dr., Corpus Christi, TX 78412, United States of America;3. College of Business, North Dakota State University, 811 2nd Ave. N., Fargo, ND 58108-6050, United States of America |
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| Abstract: | We consider the problem of an inventor who discloses knowledge under the threat of a rival who may patent a competing idea. Disclosure diminishes the probability that the rival has of receiving a patent (legal externality) but it also decreases the rival’s marginal R&D cost (knowledge externality). Our results reveal that: (i) when the knowledge externality is ‘large’ (‘small’) relative to the legal one, an increase (decrease) in the patentability standard leads to higher disclosure and promotes R&D and (ii) if subsequent research creates positive external effects, the patentability standard should be set to promote further disclosure and R&D in equilibrium. The impact on the equilibrium configuration of changes in market profits is also examined. |
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