An Analysis of Patent Length: Encouraging Innovation by Shortening Patent Protection

Abstract

Despite the fact that new products are a central concern of modern marketing theory, the marketing literature has had little to suggest about appropriate public policy for encouraging innovation. This article analyzes the issue of the appropriate length for patent protection. Recent research on pioneer brand advantage can provide a much-needed rationale for the length of time a product should be protected. This research suggests that the overall progress of innovation would benefit if legal protection were shorter than the current 17-year patent for certain types of products.