Of all the controversies surrounding the current . patent system– – and there are many– – the debate over intellectual property rights in high-technology industries is one of the most strident. Both software and biotechnology are dynamic, fast growing, and increasingly important fields. Creating the right incentives for innovation in these key industries is not just a matter of academic debate; the issue has real implications for the growth of the economy. Despite the stakes– – or perhaps because of them– – the academic community has reached little consensus on how to spur innovation in these fields without inhibiting follow-on.
