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The Competitive Advantage Of Weak Patents, William Hubbard
The Competitive Advantage Of Weak Patents, William Hubbard
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Does U.S. patent law increase the competitiveness of U.S. firms in global markets? This Article argues that, contrary to the beliefs of many U.S. lawmakers, U.S. patent law currently undermines the ability of U.S. firms to compete in global markets because strong U.S. patent rights actually weaken an overlooked but critical determinant of U.S. competitiveness: rivalry among U.S. firms. Intense domestic rivalry drives firms to improve relentlessly, spawns related and supporting domestic industries, and encourages the domestic development of advanced factors of production—like specialized labor forces. U.S. patents restrict rivalry among foreign firms less because U.S. patents have little extraterritorial …
Inventing Norms, William Hubbard
Inventing Norms, William Hubbard
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Patent law strives to promote the progress of technology by encouraging invention. Traditionally, scholars contend that patent law achieves this goal by creating financial incentives to invent in the form of exclusive rights to new technology. This traditional view of invention, however, fails to recognize that inventors are motivated by more than money. Like most people, inventors are also motivated by social norms, that is, shared normative beliefs favoring certain actions while disfavoring others. This Article argues that many Americans embrace social norms that favor and encourage successful invention. Because of these "inventing norms" inventors enjoy enhanced personal satisfaction and …