Manne flows AFF.
Geoffrey Manne et al 21, President and Founder, International Center for Law & Economics, Geoffrey A. Manne | Kristian Stout | Julian Morris | Dirk Auer , 8/11/20, The Federalist Society, Volume 21, “The Deterioration of Appropriate Remedies in Patent Disputes”, https://fedsoc.org/fedsoc-review/the-deterioration-of-appropriate-remedies-in-patent-disputes, kcab
I. Patents Facilitate Investments and Exchanges in Some of the Most Dynamic Sectors of the Economy
As suggested above, patents likely play an important role in providing inventors with incentives to innovate. But the role of patents in the commercialization of ideas is probably even more important. Property rights in general, and patent protections more specifically, reduce the cost of transacting, thus enabling firms to specialize.[12] Critically, this means that the patent system encourages and enables not just invention but also innovation by providing the basic, enforceable property rights that facilitate (theoretically) efficient organizations of economic resources and the negotiations necessary to coordinate production among them. F. Scott Kieff, a United States Federal Trade Commissioner, explained it well when he argued that IP rights are akin to “beacons in the dark, drawing to themselves all of those potential complementary users of the IP-protected-asset to interact with the IP owner and each other. This helps them each explore through the bargaining process the possibility of striking contracts with each other.”[13]