The International Consortium on Agricultural Biotechnology Research (ICABR)

 

Intellectual Property Rights Protection of Reproducible
Biotechnology Innovations

Gokhan Ozertan,
Dept.of Agricultural Economics,
Texas A&M University

H. Alan Love,
Dept.of Agricultural Economics,
Texas A&M University

Curtis R.Taylor,
Dept.of Economics, Duke University

Diana M. Burton,
Depts.of Forest Science and Agricultural Economics,
Texas A&M University

This research directly explores the role of efficient contracts and biotechnical solutions in providing intellectual property rights protection for replicable genetically modified organisms in a ramework that permits uncertainty and asymmetric information. The paper first examines economic and contractual mechanisms to determine the most effective and economically efficient mong sales contracts, incentive contracts and other approaches based on contractual legal protections. The efficient mechanism is then compared to contracts currently in use by industry to assess the societal and distributional effects of implementing the most efficient contract form. Second, the economic value of biotechnical solutions to innovators and agricultural producers is assessed and compared to the best contractual mechanism in a modeling framework that permits uncertainty and asymmetric information. The theoretical model is validated and demonstrated with an application using data from the USDA-NASS Agricultural Resource Management Study, Crop Production Practices Report. Results include 1) new theories, concepts and methods to advance the empirical assessment of the role of efficient contract mechanisms in providing incentives for private sector research and development; 2) implications for gains in productivity resulting from intellectual property protection; 3) new and enhanced methods to assess public policy alternatives for genetically modified organisms; and 4) evaluation of economic and social consequences associated with release of GMOs that protect intellectual property.


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