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Orphan Business Models: Toward A New Form Of Intellectual Property, Michael Abramowicz
Orphan Business Models: Toward A New Form Of Intellectual Property, Michael Abramowicz
Michael Abramowicz
Drug companies will often have insufficient incentives to undertake clinical testing on drugs ineligible for patent protection. The Orphan Drug Act combats this by providing a limited term of exclusivity to companies willing to shepherd a drug through FDA approval. This is a form of intellectual property protection that might be applied in many contexts beyond drugs, but the literature has not previously addressed the design and potential scope of such protection. Sometimes, no company will pursue a risky business model even when experimentation with that business model would increase expected social welfare, because other companies would free-ride on information …
The Inducement Standard Of Patentability, Michael Abramowicz, John F. Duffy
The Inducement Standard Of Patentability, Michael Abramowicz, John F. Duffy
Michael Abramowicz
In Graham v. John Deere, the Supreme Court explained that patent law’s nonobviousness doctrine is meant to restrict the award of patents only to “those inventions which would not be disclosed or devised but for the inducement of a patent.” This Article argues that this inducement standard, largely ignored in practice, should serve as the doctrinal lodestar. Such an approach would provide a solid economic foundation for the patentability standard and would align patent law with the many other fields of regulatory law that currently apply economic analysis in determining the scope and content of regulation. The Article also offers …