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Venture Capital, Patenting, and Usefulness of Innovations

Fabrizi, Simona; Lippert, Steffen; Norbäck, Pehr-Johan; … - C.E.P.R. Discussion Papers - 2011

We analyze incentives to develop entrepreneurial ideas for venture capitalists (VCs) and incumbent firms. If VCs are sufficiently better at judging an idea's value and if it is sufficiently more costly to patent low than high value ideas, VCs acquire valuable ideas, develop them beyond the level...

Persistent link: https://www.econbiz.de/10009643508

The Organization of the Innovation Industry: Entrepreneurs, Venture Capitalists and Oligopolists

Norbäck, Pehr-Johan; Persson, Lars - C.E.P.R. Discussion Papers - 2006

Exit of venture-backed firms often takes place through sales to large incumbent firms. We show that in such an environment, venture-backed firms have a stronger incentive to develop basic innovations into commercialized innovations than incumbent firms, due to strategic product market effects....

Persistent link: https://www.econbiz.de/10005791605

How Licensing Resolves Hold-Up: Evidence from a Dynamic Panel Data Model with Unobserved Heterogeneity

Siebert, Ralph; von Graevenitz, Georg - C.E.P.R. Discussion Papers - 2006

This paper is a study of licensing in a patent thicket. In a patent thicket licensing allows firms to avoid hold-up. It will have different effects on firms' R&D incentives depending on whether firms license existing or future patents. Building on a model of a patent portfolio race, firms'...

Persistent link: https://www.econbiz.de/10005504462

Entrepreneurial innovations and taxation

Haufler, Andreas; Norbäck, Pehr-Johan; Persson, Lars - C.E.P.R. Discussion Papers - 2012

entrepreneurs’ choice of riskiness (quality) of an innovation project, and on their mode of commercializing the innovation (market …

Persistent link: https://www.econbiz.de/10011083431

Acquisitions, Entry, and Innovation in Network Industries

Norbäck, Pehr-Johan; Persson, Lars; Tåg, Joacim Ingemar - C.E.P.R. Discussion Papers - 2013

option of selling to an incumbent increases innovation incentives for entrepreneurs when network effects are strong and … necessarily restrict innovation incentives. We also show that network effects promote acquisitions over entry and that the … entrepreneur has strong incentives to invest in the initial user base of the innovation. …

Persistent link: https://www.econbiz.de/10011083667

Jostling for Advantage: Licensing and Entry into Patent Portfolio Races

Siebert, Ralph; von Graevenitz, Georg - C.E.P.R. Discussion Papers - 2006

Licensing in a patent thicket allows firms to either avoid or resolve hold-up. Firms’ R&D incentives depend on whether they license ex ante or ex post. We develop a model of a patent portfolio race, which allows for endogenous R&D efforts, to study firms’ choice between ex ante and ex post...

Persistent link: https://www.econbiz.de/10005661516