The Economics of Intellectual Property and Openness: The Tragedy of Intangible Abundance (Routledge Focus on Economics and Finance)

This book focuses on the economic aspects of intellectual property (IP). It includes considerations of the wider category of intangible assets. However, the primary focus is devoted to patents which the author argues are the most vivid example of the Tragedy of Intangible Abundance (TIA). TIA touches upon a key issue in the contemporary economy. On the one hand, there is an enormous supply of IP, yet, on the other hand, such an abundance does not necessarily solve existing issues but rather creates new ones as well. This book elaborates on the reasons for the emergence of TIA and its consequences. The author uses clear metaphors to explain very complex issues. The book provides a valuable and interdisciplinary analysis of the field and offers practical solutions. It is based on the data collected by the author during the qualitative research he conducted among a group of start-ups. It presents guidance on determining which instrument is the most efficient for a particular situation. It also provides arguments for decision-makers and their advisors as to why a more open approach towards intellectual property would be more beneficial under many circumstances in the contemporary economy. While universal issues are addressed, the author distinguishes the European perspective too. The book is written in a clear and concise style and covers all of the crucial aspects of IP management. It will find an audience among scholars of economics and business. "This book focuses on the economic aspects of intellectual property (IP). It includes considerations of the wider category of intangible assets, however, the primary focus is devoted to patents which the author argues are the most vivid example of the Tragedy of Intangible Abundance (TIA). TIA touches upon a key issue in the contemporary economy. On the one hand, there is an enormous supply of intellectual property, yet, on the other, such an abundance does not necessary solve existing issues but rather creates new ones as well. This book elaborates on the reasons for the emergence of TIA and its consequences. The author uses clear metaphors to explain very complex issues. The book provides a valuable and interdisciplinary analysis of the field and offers practical solutions. It is based on the data collected by the author during the qualitative research he conducted among a group of start-ups. It presents guidance on determining which instrument is the most efficient for a particular situation. It also provides arguments for decision-makers and their advisors as to why a more open approach towards intellectual property would be more beneficial under many circumstances in the contemporary economy. While universal issues are addressed, the author distinguishes the European perspective, too. The book is written in a clear and concise style and covers all of the crucial aspects of IP management. It will find an audience among scholars of economics and business"-- Provided by publisher This book focuses on the economic aspects of intellectual property (IP). Cover 1 Half Title 2 Series Page 3 Title Page 4 Copyright Page 5 Table of Contents 6 About the author 8 Acknowledgements 10 Introduction 12 1 Tragedies in economics 15 1.1 Economics of scarcity 15 1.2 Tragedy of the Commons 17 1.3 Tragedy of the Anti-Commons 20 1.4 Tragedy of Intangible Abundance 22 2 What caused the Tragedy of Intangible Abundance 31 2.1 Low quality of patents 31 2.2 Patent flooding 40 2.3 Immeasurable intangible resources 45 2.4 Propertisation of intangible assets 52 2.5 Intensified complexity of innovation 58 3 Indications of Tragedy of Intangible Abundance 62 3.1 Intellectual property demand and supply mismatch 62 3.2 Intellectual property law has become an arms-race field 64 3.3 Patent thickets and entry barriers 66 3.4 ‘Patent trolls’ (non-practising-entities) 69 3.5 Ineffective legal intellectual property protection 72 4 Toward openness – counteracting the Tragedy of Intangible Abundance 79 4.1 Systemic measures 79 4.2 Sectoral measures 91 4.3 Company prospects: directed diffusion 95 4.4 Benefits from directed diffusion 99 4.5 Directed diffusion: instruments 104 Conclusion 120 Index 122 Economics;,Intangible,Abundance;,Systemic,Measures;,Patent,Trolls;,Innovation Economics,Intangible Abundance,Systemic Measures,Patent Trolls,Innovation