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We introduce patent examination into a standard ``variety expansion'' and ``lab-equipment'' type R&D-based growth model. Patent examination takes both time and cost. We examine the effects of reducing the patent examination duration on patent pending varieties, economic growth, and welfare. The relation between the number of patent pending varieties and patent examination duration is inverted-U shaped, because reduction in the patent examination duration both decreases the patent pending varieties by granting patents and increases same by promoting R&D. The reduction in examination duration promotes economic growth. However, the relationship between examination duration and social welfare is also inverted-U shaped because extremely short patent examination requires massive resources.
