By Roger D. Blair
This booklet addresses numerous points of the legislation and economics of highbrow estate rights (IPRs) which have been underanalyzed within the current literature. The authors reveal that the center assumption of IPR regimes--that IPRs maximize sure social advantages over social expenditures by way of offering an important inducement for the creation and distribution of highbrow products--has a number of very important implications for the optimum layout of treatments, the traditional of care, and the legislations of status and joinder.
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Extra resources for Intellectual Property: Economic and Legal Dimensions of Rights and Remedies
P1: KNP/... /... xml CB833/Blair 0 521 83316 7 The Law and Economics of IPRs November 9, 2005 25 lasts only for as long as the information remains secret and valuable. Unfortunately, the information may become widely known despite the trade secret owner’s best efforts to maintain secrecy and thus no longer be a secret; or it may become obsolete and, therefore, lose value. In these respects, trade secret protection is more tenuous and less valuable than patent protection, though one must take this observation with a grain of salt.
If the trade secret owner is able to prove the actual or threatened misappropriation of a trade secret, the court may award injunctive relief. The UTSA qualifies this right to an injunction, however, by providing that: In exceptional circumstances, an injunction may condition future use upon payment of a reasonable royalty for no longer than the period of time for which use could have been prohibited. 47 Finally, in the event of a “willful and malicious” misappropriation, the UTSA permits 46 47 UTSA § 2(b); see also Restatement (Third) of Unfair Ccmpetition, § 44 cmt.
35 As we noted, the patent term for all inventions is more or less standard and runs from the date of grant until twenty years after the date of filing. In theory, there is no reason why this must be so. One could, for example, award longer patents for inventions that are the result of large investments in research and development, or that confer substantial social benefits, and shorter patents for other inventions. 37 Some inventions, therefore, may receive much more of a stimulus than is necessary, while others not enough.
Intellectual Property: Economic and Legal Dimensions of Rights and Remedies by Roger D. Blair