Mechanisms to Enable Follow-On Innovation

Modern innovations typically contain several patents, yet the patent system is based on “one-patent-per-product.” As a result, follow-on innovations may be subject to market failures, such as hold-up problems. 

Alina Wernick’s recent thesis aims to resolve a fundamental research question in patent law: are these market failures to be solved by voluntary licensing i.e., open innovation, or with compulsory liability rules? 

She gives a comprehensive account of the means to engage in open innovation involving patents and the incentives to do so. She also evaluates the sufficiency of compulsory licenses in patent and competition law to address overprotection problems that may hinder follow-on innovation. She concludes that voluntary not compulsory licensing are sufficient to resolve the identified market failures and proposes a novel mechanism to address them.

The webinar’s concept is informal Phd thesis defence. Dr. Juha Vesala is an opponent and there is also time for questions from the audience.

Welcome!