Without IP, governments could set innovation prizes and opensource the output

[delta-neutral]

Patents are often thought to be the best way to incentivize innovation. In this ETH Zurich video, a Stanford law professor proposes an alternative system where the government offers fixed prizes for certain innovations and then open sources the inventions. If the prizes are set equal to the monopoly rents under the patent regime, innovators should be indifferent between the two system. However, this would require the government to correctly price innovations.

[delta-neutral]

Here's the hyperlink: https://youtu.be/RU83Mdugu_c