A critical issue innovators face comes from an appropriability problem: new products or processes need investment to be created but, once created, might be easily replicated, reducing innovators’ profit and resulting in the underinvestment of resources in innovation. Dr. Hamdam-Livramento Raffo will illustrate the role of Intellectual Property Rights (IPRs) in solving the appropriability problem and offering incentives to innovate. Dr. Livramento is an Economic Officer at the World Intellectual Property Organisation (WIPO), working at the intersection of innovation and intellectual property rights.
Reference:
- WIPO. (2022). World intellectual property report 2022: The direction of innovation . WORLD INTELLECTUAL PROPER. https://www.wipo.int/publications/en/details.jsp?id=4594
(Chapter 1 & 3)