Some economists have proposed replacing patents in some markets with an innovation prize model, which would use inducement prizes rather than temporary monopolies to reward research and development effort. == Background == Patents provide a temporary monopoly on a product to the first inventor or firm to develop it.
Some economists have proposed replacing patents in some markets with an innovation prize model, which would use inducement prizes rather than temporary monopolies to reward research and development effort. == Background == Patents provide a temporary monopoly on a product to the first inventor or firm to develop it.
Source: Wikipedia "Innovation prize model" · CC BY-SA 4.0
Share this article: X · Bluesky