The Federal Trade Commission's 2003 innovation report revealed an interesting fact: the pharmaceutical industry is largely satisfied with today's patent system while the electronics, software and Internet industries are not. This article suggests that a difference in governing law accounts for...

The Hatch-Waxman Act was intended to encourage makers of generic drugs to seek early entry into drug markets controlled by patents, in part by challenging the patents before they expire. Some patentees have settled these challenges by agreeing to pay the challengers tens or hundreds of millions...