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Chapter Three: Patent Trolls and Patent Policies


Published: November 30th, 2020

Contrary to popular opinion, “patent trolls” may benefit inventors and the economy by playing a useful intermediary role between individual inventors and large manufacturers. More robust markets for patents are developed as a result. Without patent trolls, inventors might have fewer opportunities to market their ideas.

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Discussion Questions

  1. What kind of inventions can be protected under the patent system?
  2. How does intellectual property affect the economy?

Additional Resources

  • Read “Patents and the Wealth of Nations,” by Stephen Haber. Available here..
  • Read “The Myth of the Wicked Patent Troll,” by Stephen Haber and Ross Levine. Available here.
  • Read “Patent Trolls as Financial Intermediaries? Experimental Evidence,” by Stephen Haber and Seth H. Werfel. Available here.
  • Read “Property Rights: A Practical Guide to Freedom and Prosperity,” by Terry Anderson and Laura E. Huggins. Available here.