SEMINARS

Webinar by Otto Toivanen, Aalto University: "The European Unitary Patent: Patent Value, Innovation Incentives and Welfare"

SPEAKER

Otto Toivanen,

Aalto Univeristy










DATE

Dec 17th, 2024

11:00 to 12:00 London time.


LOCATION

Event will be held online

TECHNIS is pleased to invite you to a free webinar. TECHNIS webinars focus on recent legal, economic, managerial, ethical and policy issues related to technological innovation. Our approach is interdisciplinary and presentations are given by experts in different fields such as economics, law, management, STS, sociology, anthropology and philosophy. Webinar presentations last for 20min and are followed by a 40min discussion.


Please join us for a webinar on Tuesday the 17th of December 2024 at 11:00 London time i.e. 12:00 Brussels time, 13:00 Athens time. The speaker is Otto Toivanen, Department of Economics, Aalto University. The title of the talk is "The European Unitary Patent: Patent Value, Innovation Incentives and Welfare".


This webinar is free and open to all. The moderator is Dr. Andreas Panagopoulos


Join Zoom Meeting: https://uoc-gr.zoom.us/j/84642993639?pwd=4mpCWh3kXwL7TeODcCa7UZ9cKEbbYU.1
Meeting ID: 846 4299 3639
Passcode: 532636


NOTE: To participate please contact Andreas Panagopoulos at least an hour prior to the webinar.


Abstract: The harmonization of the European patent (EP) system through the recently launched Unitary Patent (UP) is one of the largest recent changes in a major intellectual policy regime. Using a model of patent renewals and data for chemical patents granted in 2000 by the European Patent Office, we find that i) the average European patent (EP) is worth AC230K; ii) essentially all inventors would have used UP had it been available; iii) the private value of patents increases by 7% on average with the largest contributions coming from increased patent length and

reduced fees and very little from improved quality of inventions and expanded territorial scope of patent protection; iv) private value of patents is 54-57% and consumer surplus 43-46% of total welfare; v) total welfare increases only 0-2% as

consumer surplus is reduced 2-9%. There are large differences between countries in the changes induced by UP.