Sure it does; there's no pricing (and therefore market) power if the mechanism, however novel and eligible for protection, has alternatives with equal utility.
> Sure it does; there's no pricing (and therefore market) power if the mechanism, however novel and eligible for protection, has alternatives with equal utility.
That's kind of the point. A patent by its nature has zero value without market power.
Contrast this with actual property. If you have wheat or copper, you have no market power, it's a pure commodity market, but people will still pay you something for it.
That's kind of the point. A patent by its nature has zero value without market power.
Contrast this with actual property. If you have wheat or copper, you have no market power, it's a pure commodity market, but people will still pay you something for it.