We study the effect of the fragmentation of intellectual property rights on optimal patent design. The major finding is that when several complementary innovative components must be assembled to operate a new technology, the patentability requirements should be stronger than in the case of...

We study the effect of the fragmentation of intellectual property rights on optimal patent design. The major finding is that when several complementary innovative components must be assembled to operate a new technology, the patentability requirements should be stronger than in the case of...

In this article, we show how new online music streaming services such as Spotify and Deezer can deter piracy. These new services monetize large audiences with low willingness to pay for music. We analyze a simple freemium model in which a firm offers both a free version and a premium version....