Changes

''invent around''

Patents issued for reason/utility unknown. Also applies to patents issued for discreet, inventive steps that do not have stand-alone commercial value.

''Langus''

Often used to describe accumulating many patents merely to control design freedom. In this case, patents are commonly used as bargaining chips rather than reflecting intrinsic value. Largely welfare neutral, however it can contribute to transaction and search costs.

''patent portfolio''

''Hall & Ziedonis''

Can occur in situations of DHCI when a "hold-out" player resists participating in a multilateral agreement across different parties. The nonparticipating hold-out player takes advantage of their position to extract higher rents from licensees because self-interest and social welfare are not aligned.

*Reverse patent hold-up is sometimes called “hold-out” by legal practitioners.