Economic theory views patents as policy instruments aimed at fostering innovation and diffusion. Three major implications are drawn regarding current policy debates. First, patents may not be the most effective means of protection for inventors to recover R&D investments when imitation is costly...

This policy brief explores how changes in several dimensions of innovation might influence IP regimes, and their impacts on society in the future. Since IP is a global phenomenon, we have no specific geographical focus, but look toward IP regimes in 2040. However, our policy implications are...