Maximizing Inventor’s Profit in the Process of Invention Commercialization Based on the Nordhaus Model

Abstract

In this article, the author develops a model of inventor’s profit maximiza- tion in the process of commercializing an invention based on the critical analysis of the «optimal life of a patent» model offered by the American economist Wil- liam Nordhaus. The author defines perspective directions for further modifica- tions of the Nordhaus model for its application in the real economic conditions of Ukraine.