Kills market inventions – inventors lose control, eliminating incentives
Spulber 14 (Daniel F. Spulber has a PhD in economics from Northwestern University and previously ranked 6th among economics in the United States, “Prices versus Prizes: Patents, Public Policy, and the Market for Inventions,” “Northwestern University School of Law: Law and Economics Series • NO. 14-15,” URL: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2488095, August 28, 2014)//NTG
A prize system without property rights for inventors would eliminate the allocative and dynamic efficiencies of the market for inventions. Inventors would lose innovative control over their inventions, thus eliminating incentives to allocate inventions to the highest-value uses. Lack of innovative control would eliminate incentives to continually develop inventions, to commercialize inventions, to introduce innovations based on inventions and to invest in complementary assets.