The standard view of patents emphasizes their dynamic efficiency. It considers that, by providing firms with incentives to invest in R&D and to disclose their knowledge, patents encourage innovation and increase social welfare in the long run. Yet, a growing body of literature opposes this view...

Open innovation is a hot topic in contemporary literature in economics and management of innovation. According to Chesbrough (2003), the adoption of an open innovation strategy is nothing less than the key to success for businesses. This highlights the fact that contemporary innovation is less...