Incentive-to-Commercialize Theory Law and Legal Definition

In the context of Patents law, incentive-to-commercialize theory is the economic theory that justifies the grant of patent rights. This theory is based on the principle that how efficient the patent system would be in bringing together diverse resources such as commercial backing, manufacturing capacity, marketing know-how, and other skills that the inventor would be unable to handle alone. Incentive-to-commercialize theory is also termed incentive-to-invest theory, incentive-to-innovate theory, and prospect theory.