Citation:
Kremer, Michael. 1997. “Patent Buy-Outs: A Mechanism for Encouraging Innovation”. Copy at http://www.tinyurl.com/yxftcox9
Abstract:
This paper examines a mechanism under which governments would use an auctuion to extimate the private value of patents and then offer to buy out patents at this private value, times a fixed markup. Patent buy–outs may be particularly appropriate for pharmaceuticals.