•

•

In countries that already have patents, economic studies show that inventors receive only one-third to

one-half of the total economic value of their inventions.

In a fast-moving high-technology industry like biotechnology or semiconductor design, patents may be

almost irrelevant because technology is advancing so quickly.

• Not every new idea can be protected with a patent or a copyright—for example, a new way of organizing a

factory or a new way of training employees.

• Patents may sometimes cover too much or be granted too easily. In the early 1970s, Xerox had received
over 1,700 patents on various elements of the photocopy machine. Every time Xerox improved the

photocopier, it received a patent on the improvement.

• The 20-year time period for a patent is somewhat arbitrary. Ideally, a patent should cover a long enough

period of time for the inventor to earn a good return, but not so long that it allows the inventor to charge a

monopoly price permanently.
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