Keyword: patents
Competitive Strategy (7/7/2006)
Static efficiency in mature products may be good for consumers in the short run, but dynamic efficiency in innovative products is what drives the economy and elevates consumer welfare in the long run.
Keywords: brand dominance, consumer surplus, dynamic efficiency, economic surplus, innovative products, lock-in effect, market structure, mature products, monopoly, network product, oligopoly, patents, perfect competition, price discrimination, single pricing, standards, static efficiency
Patently Deadly (3/7/2002)
Granting patents to biotechnology discoveries encourages inventions but could delay the introduction of competing products.
Keywords: Abbott, barrier of entry, Bio-Rad, blood transfusion, HIV test, HIV-1, HIV-2, infection, license, NIH, patents, property right