This blog contains posts and comments written by students in Dr. Tufte's economics classes at Southern Utah University.
4/15/2005
Maintaining Monopolies
In class we are learning about a firm’s strategy to keep other firms from entering the market. Eli Lilly and Co. will keep its patent on a schizophrenia drug until 2011. Do you think that it is better to let companies keep their patents longer, or let other companies produce it cheaper?
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3 comments:
-1 on Trudy's comment for grammatical errors.
This is more of an ECON 3020 topic. There is actually pretty solid evidence that the length of patents is too short, in that inventor's get a lot less from their invention than soceity does.
Dr. Tufte said there is actually pretty solid evidence that the length of patents is too short, in that inventor's get a lot less from their invention than soceity does. I agree if someone creates a product they should have the right to sell it longer than they do now and I think that the patent should be international.
How do we do the latter?
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