Hernández-Murillo, Rubén; Llobet, Gerard - Federal Reserve Bank of St. Louis - 2004
information about the usefulness of the new technology. We characterize two purposes the optimal licensing contract serves to the …. We also assume that potential
licensees have private information about the usefulness of the new technology. We ….
JEL Classification: L13, O32.
Keywords: patent licensing, royalty rate, fixed fees, private information.
1 Introduction …