Does an expansion of patent scope induce more innovative effort by firms? This article provides evidence on this question by examining firm responses to the Japanese patent reforms of 1988. Interviews with practitioners suggest the reforms significantly expanded the scope of patent rights in...

We empirically examine the determinants of the price of patent licensing. We find factors affecting the profitability of patents and bargaining power of licensors and licensees are good predictors of the royalty rate of patent licensing, while proxies for the reservation price of licensors are...

We study the relationship between the enforceability of covenants not to compete (CNCs) and employee mobility and wages. We exploit a 2015 CNC ban for technology workers in Hawaii and find that this ban increased mobility by 11% and new-hire wages by 4%. We supplement the Hawaii evaluation with...

We examine the role of human capital in employees' decisions to leave their parent firms and form spinouts. Using a large sample of individuals who formed spinouts in manufacturing industries between 1992 and 2005, and their co-workers who did not, we find that after controlling for age,...