a. How should a firm that has invented a new product decide whether to patent it, i.e. what are the steps a firm should go through when making this decision?
b. Evaluate the marginal costs & benefits of patents for a firm that has developed a new product. What type of products should ideally be patented, and which should not?
c. Aside from patents, name & explain two other ways might a firm protect its intellectual property. Evaluate the costs & benefits of the other approaches.
d. For software, evaluate the costs and benefits of choosing to release one's product as open source as opposed to patenting it.