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ERIC Number: EJ893036
Record Type: Journal
Publication Date: 2010
Pages: 17
Abstractor: As Provided
Reference Count: 9
ISBN: N/A
ISSN: ISSN-0022-0485
Understanding Patenting Decisions: A Classroom Exercise
Bernard, John C.; Yiannaka, Amalia
Journal of Economic Education, v41 n3 p235-251 2010
Although many students have some knowledge of patents, it can be difficult for them to understand the components of an innovator's decision-making process. Key issues, such as whether to patent or to use trade secrecy, how broad a scope to claim, and what to do in the event of patent infringement, can be difficult to grasp from a standard lecture. The authors present a classroom exercise in which students assume the role of an innovator and their decisions at each stage have direct consequences on the profits they earn. Realistic probabilities are used to determine whether patents are infringed or court cases are won. The exercise is additionally useful in providing lessons on behavior under risk and uncertainty and the profit-maximizing goal of firms. (Contains 9 notes and 3 tables.)
Heldref Publications. 1319 Eighteenth Street NW, Washington, DC 20036-1802. Tel: 800-365-9753; Tel: 202-296-6267; Fax: 202-293-6130; e-mail: subscribe@heldref.org; Web site: http://www.heldref.org
Publication Type: Journal Articles; Reports - Descriptive
Education Level: Higher Education; Postsecondary Education
Audience: Teachers
Language: English
Sponsor: N/A
Authoring Institution: N/A