Duration of patent protection: Does one size fit all?

Abstract

Consistent with the TRIPs Agreement, the patent system has a ‘one size’ approach to duration of protection, in that all inventions are entitled to the same maximum period of grant: 20 years. This paper seeks to answer the question whether this ‘one size’ approach fits all inventions. The article determines if the present system of patent protection is within the bounds of what might be considered optimal, when account is taken of the economic theory on duration, the real world practices of patentees regarding renewal of their patents, and the legal features of the current system. It finds that the system on duration of patent protection currently in operation matches closely to what would be..