Vanderbilt Law Review

Vanderbilt Law Review is a magazine focusing on Law

Articles from Vol. 53, No. 6, November

Analyze This: A Law and Economics Agenda for the Patent System
Patent law as a field of academic study has benefited enormously from the attention of economists. Indeed, law professors are relative newcomers to the academic patent field, trickling in behind the economists in small but growing numbers as patent law...
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An Unhurried View of Private Ordering in Information Transactions
We stand at an unprecedented moment in the history of exclusive private rights in information ("EPRIs").1 Technology has made it possible, it seems, to eliminate to a large extent one aspect of what makes information a public good-its nonexcludability....
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Comment on "Lessons from Studying the International Economics of Intellectual Property Rights"
Copyright is the "dog that didn't bark" in Keith Maskus's paper, "Lessons from Studying the International Economics of Intellectual Property Rights."1 Like virtually every other economic study of intellectual property and trade, the Maskus paper confines...
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Copyright and Democracy: A Cautionary Note
Democratic theories of copyright have become quite the rage in recent years. A growing number of commentators have offered their views on the relationship between copyright law and the process of self-governance.1 No scholar has been more committed to...
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Copyright and the Perfect Curve
I. THE "PROGRESS" PROBLEM Everyone agrees that the purpose of the copyright system is to promote progress.' At the same time, though, skepticism about the law's ability to define the substance of progress runs deep within copyright case law and theory....
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Cruel, Mean, or Lavish? Economic Analysis, Price Discrimination and Digital Intellectual Property
It is not because of the few thousand francs which would have to be spent to put a roof over the third-class carriages or to upholster the third-class seats that some company or other has open carriages with wooden benches .... What the company is trying...
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Elementary and Persistent Errors in the Economic Analysis of Intellectual Property
The literature on the economic analysis of intellectual property rights evidences a broad scholarly consensus on a number of central and important issues. First, intellectual property rights enable economic actors to capture some of the benefits of the...
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Games Economists Play
When Professor Reichman called me about this symposium, I was intrigued. With the successive introduction of the photocopy machine, the videotape, computerization, digitization, the Internet, as well as a host of biotechnological discoveries, the problems...
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Intellectual Property Rights and the New Institutional Economics
INTRODUCTION When someone speaks of "the law and economics of intellectual property rights" (IPRs), an image along the lines of the following diagram is apt to come to mind: This is the basic illustration of monopoly price and output, familiar from introductory...
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Lessons from Studying the International Economics of Intellectual Property Rights
I. INTRODUCTION When the Uruguay Round negotiations began in 1986, the subject of intellectual property rights ("IPRs") was completely unfamiliar to international trade economists. Presumably the area was ignored because global trade policy concerns...
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Market Hierarchy and Copyright in Our System of Free Expression
I. INTRODUCTION: MARKET HIERARCHY AND SPEECH If trends of the past two decades persist, a vast inequality of wealth may well become a fundamental, defining characteristic of political and social life in many Western democracies, particularly the United...
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Of Green Tulips and Legal Kudzu: Repackaging Rights in Subpatentable Innovation
I. INTRODUCTION How to enable entrepreneurs to appropriate the fruits of their investments in cumulative and sequential innovation) without impeding follow-on innovation and without creating barriers to entry2 has become one of the great unsolved puzzles...
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Patent Policy Innovations: A Clinical Examination
INTRODUCTION In recent years, many of the policy discussions about the patent system have focused on the harmonization of national systems. On the domestic front, the dispute has centered on the question of whether the United States should honor commitments...
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Shaping Competition on the Internet: Who Owns Product and Pricing Information?
INTRODUCTION Historically, markets have almost always fallen short of satisfying the conditions for and providing consumers with the benefits of perfect competition. Certain characteristics of electronic markets, however, enhance the possibility that...
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Strategic Disclosure in the Patent System
ABSTRACT Patent applications are evaluated in light of the prior art. What this means is that patent examiners evaluate a claimed invention by comparing it with what in a rough sense corresponds to the set of ideas and inventions already known to the...
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Taking the Protection-Access Tradeoff Seriously
Law and economics scholarship has contributed much to our understanding of both the nature of intellectual property rights generally and the features of individual intellectual property regimes. Indeed it is hard to imagine a field other than antitrust...
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The FTC as Internet Privacy Norm Entrepreneur
I. INTRODUCTION This symposium explores the economic approach to intellectual property law. This Article concerns a particular type of intellectual good-personal data. Personal data is an increasingly important topic because of its connection to the...
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The Pharmaceutical Industry and World Intellectual Property Standards
When I was a high school student during the late 1940s, the first so-called "wonder drugs"-initially penicillin and then the broad-spectrum antibiotics such as tetracycline-were entering the U.S. market. From their profitable experience developing the...
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