We suggested above that an annually increasing renewal fee would be an efficient means of setting optimal

Question:

We suggested above that an annually increasing renewal fee would be an efficient means of setting optimal patent life. Similarly, suppose that owners who wanted to restrict future use of their property had to pay a fee for each year that the restriction runs. For example, if my will stipulates that Blackacre should be used exclusively as a residence for 100 years, then I would have to make provision in my will to pay the state for each year that the restriction runs. In effect, the state deducts an annual fee from a bequest for a testator who desires to impose posthumous restrictions on property for a specified number of years. At what level would you set such a fee? Would it be the same for all types of conditions and all types of property? Is such a fee more efficient than the rule against perpetuities?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Law and economics

ISBN: 978-0132540650

6th Edition

Authors: Robert cooter, Thomas ulen

Question Posted: