The Economic Value of Intellectual Property Rights .

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The Economic Value of Intellectual Property Rights. Professor Derek Bosworth Intellectual Property Research Institute of Australia Melbourne University. Coverage of the presentation. Components of value Counterfeiting and infringement Borrowing against assets
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The Economic Value of Intellectual Property Rights Professor Derek Bosworth Intellectual Property Research Institute of Australia Melbourne University

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Coverage of the presentation Components of significant worth Counterfeiting and encroachment Borrowing against resources Distribution of qualities/hazard in speculation Conclusions

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Components of significant worth

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Components of significant worth: private Value of the fundamental IP an innovation may have esteem without IPRs e.g. "security" by being first to market Value of the IPR to the organization estimation of the IPR is the distinction in estimation of the IP with and without IPR assurance the estimation of IP would be extremely disintegrated without IPRs motivating force to design or keep up quality would be seriously undermined

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Components of significant worth: open Positive effect of IPRs on element welfare, i.e. innovativeness (i.e. motivating force to create, motivator to keep up or increment item quality, and so on.) getting to high innovation of others capacity to permit/cross permit Negative effect of IPRs on static welfare, i.e. higher costs for merchandise

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Effects of IPRs on esteem: innovations Inventions costly to deliver modest to imitate? Interests in R&D not recovered without IPRs As use on R&D can\'t be recovered, there is no motivator to contribute Countries, for example, China acquainted IPRs all together with get to outside innovation

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Effects of IPRs on esteem: exchange marks Trade names and brand esteem costly to construct shabby to repeat (fake/privateer) Investments in publicizing, R&D, and so forth not recovered Perceived item quality is undermined by fake merchandise Incentives to keep up or enhance quality are influenced by fake products

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Counterfeiting and encroachment Counterfeiting and robbery identify with the activities of one organization in endeavoring to go off their products (or administrations) as those of another organization.

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Software Information Industry Piracy Study, 1999

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Market estimate populace mark fame wage and wage appropriation Distance physical social dialect innovative separation (capacity to deliver exact imitations, including marks) Unit costs work costs capital costs IPR and expenses of insurance (dangers to originator/forger) IPR administration (frail, direct, solid) degree and productivity of policing Drivers of (Cross-fringe) Counterfeiting

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Origin of Counterfeits in EU (% cases)

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Patent Infringement Damages

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Borrowing against resources

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Intangible resources as guarantee In a few firms/segments intangibles essentially surpass the estimation of effects Borrowing against substantial resources disservices firms with higher extents of intangibles Knowledge-based firms need to get against elusive resources Such firms must record for their intangibles secure their intangibles utilizing IPRs police their intangibles and rebuff IPR infringers

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Borrowing against IP

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Distribution of qualities

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Distribution of qualities All the observational writing focuses to an exceptionally skewed conveyance of estimations of IP/IPRs Most IP is worth little in the event that anything other than a little extent of IP is amazingly profitable This outcome is steady with (however not verification of) the dangers of interests in IP Basic R&D is a profoundly dangerous action New item dispatches are exceedingly unsafe

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Identifying esteem circulation of licenses Main techniques: patent recharging data patent reference data reviews of business esteem Consistent discoveries: most patent lives are short/generally couple of seemingly perpetual most licenses get not very many references/little extent get countless overviews indicate just an extremely small extent of licenses are worth huge sums/most are worth little on the off chance that anything

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Example of an exceptionally refered to patent Bristol-Myers Squibb patent 4105776 Invented by Ondetti and Cuslunan allowed in 1978 refered to 165 times from the date of its issue in 1978 through September 1995 single most exceedingly refered to patent issued in 1978, out of 70,590 licenses issued in that year 101 times by later Bristol-Myers Squibb licenses 16 times by American Home Products licenses 48 times by licenses doled out to 20 different organizations or designers

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