Economic Analysis of Optimal Protection Duration for Invention Patents in China

Abstract

This paper conducts an economic analysis to determine the optimal duration for protecting invention patents in China. Through a combination of theoretical modeling, empirical research, and policy analysis, the study aims to identify the trade-offs between providing sufficient incentives for innovation and promoting competition and dynamic efficiency in the market. The research examines factors such as the pace of technological change, industry dynamics, patent examination efficiency, and the cumulative innovation effects of patents. Using quantitative methods, the study evaluates the potential impact of different patent protection durations on innovation incentives, market competition, consumer welfare, and economic growth. Additionally, the research considers the implications of international patent standards and best practices for setting the optimal patent protection duration in the Chinese context. By offering insights from an economic perspective, this study contributes to informing policy decisions regarding patent protection duration and its implications for innovation and economic development in China.