Abstract
Time and time again, scholars have attempted to assess the efficacy of the
intellectual property institution; these attempts have created a vast amount of
literature. As impressive as the volume of work is that has been generated on this
issue, so is the absence of a generally applicable theory of intellectual property, which
either claims or disclaims the efficacy of the intellectual property institution. This
article questions the existence of a general definition of efficiency that is applicable to
the assessment of the patent institution. While it is true that the efficiency as
applied to specific cases may be definable with the help of further normative criteria
and may even be useful, the indeterminacy of efficiency is such degree that a
normative explanation of the institutional arrangement of intellectual property solely
based on efficiency is not as useful.
