We argued in our paper, "Patent Hold-Up and Royalty Stacking," that the threat to obtain a permanent injunction greatly … enhances the patent holder's negotiating power, leading to royalty rates that exceed a benchmark level based on the value of … the patented technology and the strength of the patent. John Golden, in his extensive comment on our paper, claims …

, we show using bargaining theory that the threat to obtain a permanent injunction greatly enhances the patent holder …We study several interconnected problems that arise under the current U.S. patent system when a patent covers one … and the strength of the patent. Such royalty overcharges are especially great for weak patents covering a minor feature of …

The continuations procedure within the U.S. patent system has been criticized for enabling firms to manipulate the … patent review process for strategic purposes. Changes during the 1990s in patent procedures affected the incentives of … by R&D-intensive, small firms that patent heavily, and are more common in chemical and biological technologies. Patents …

The continuations procedure within the U.S. patent system has been criticized for enabling firms to manipulate the … patent review process for strategic purposes. Changes during the 1990s in patent procedures affected the incentives of … by R&D-intensive, small firms that patent heavily, and are more common in chemical and biological technologies. Patents …

It is well known in antitrust economics that competitors can rely on patent licensing with supracompetitive royalties … as a surrogate for price fixing. This paper addresses a number of alternative situations in which patent royalty … surplus. The results shed new light on the competitive impact of patent pools, which typically create widespread royalty …

"For over a century, courts and commentators have struggled to find principles that reconcile patent and antitrust law …, especially as to patent licensing. We interpret case law and commentary to arrive at three unifying principles for acceptable … terms of license. Profit neutrality' holds that patent rewards should not depend on the rightholder's ability to work the …