This paper considers the impact of the intellectual property (IP) system on the timing of cooperation/licensing by start-up technology entrepreneurs. If the market for technology licenses is efficient, the timing of licensing is independent of whether IP has already been granted. In contrast,...

Technology-based industries have come to account for ever-greater shares of economic activity during the last 30 years. Recently, rapid, digitally-enabled technological change has generated new opportunities for value creation, enabled new ways of capturing value, and stimulated the emergence of...