A large portion of innovators do not patent their inventions. This is a relative puzzle since innovators are often … and can account for the differences across sectors in the propensity to patent. Surprisingly, in general, the protection …

royalty-free licensing is negatively associated with disclosure requirements, and the relationship between concessions and …

This paper is a study of licensing in a patent thicket. In a patent thicket licensing allows firms to avoid hold-up. It …. Building on a model of a patent portfolio race, firms' choice between these types of licensing contracts is modelled. We find … results we argue that licensing raises welfare in the patent thicket. …

Markets for technology can promote innovation by allowing for division of labor in research and development. Some firms … of competition between potential buyers has countervailing effects on this condition. An empirical analysis of licensing …

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 licensing. The model shows that firms’ relationships in product markets and …

measure of innovation alternative to patent count. Unlike the impact on patent count, we do not find that VC investment … impact on patent count at industry level, and this impact is larger than that of R&D expenditures. We confirm that this … and material. Therefore, our finding suggests that, at industry level, VC investment increases the patent propensity but …

We develop a theory of innovation for entry and sale into oligopoly, and show that an invention of higher quality is …