transfer, and their implications for investment, innovation, and product market competition. The model also sheds light on the … communicate valuable knowledge to an entrepreneur, facilitating innovation. The venture capitalist can also communicate the … choice between venture capital and other forms of finance, and the determinants of the decision to seek patent protection for …

Patent holders may choose to protect innovations with single patents or to develop portfolios of multiple, related … inventions. We propose a simple decision-making model in which patent-holders may allocate resources to either expanding the … number of related patents or investing in higher value of patents in the portfolio. We estimate the derived value equation …

We analyse the determinants of opposition to biotechnology and pharmaceutical patents granted by the European Patent … the patents are attacked in opposition proceedings. Using citation and patent family indicators we show that valuable … patents are more likely to be attacked, and that opposition is particularly frequent in areas with strong cumulative patent …

private economic value of patents. The estimated mean of our patent value distribution is higher than 3 million Euros, the … skewed distribution of patent values. Our measure is significantly correlated with the number of patent citations, references …, claims, and countries in which the patent is applied. Citations explain value as much as the other three indicators combined …

British biotechnology companies we have identified all patents filed at the European Patent Office (EPO). Applying hazard rate … attention to patent quality, financing those ventures faster which later turn out to have high-quality patents. Patent …This paper investigates how patent applications and grants held by new ventures improve their ability to attract …

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 incumbents would have chosen, and use patents to signal their companies …-run performance, but also infl ates their acquisition prices, and lowers their acquirers' overall profits. Patent law usefulness …

distorts occupational choice. We study this possibility in the context of a model with horizontal innovation, where the … government, in addition to taxes and transfers, controls the fraction of innovations that are granted patents. The model predicts …

We show that when the researcher’s (observable but not contractible) contribution to innovation is crucial, a covenant …

We develop a theory of innovation for entry and sale into oligopoly, and show that an invention of higher quality is … allocated to high-quality invention projects. Using data on patents granted to small firms and individuals, we find evidence … that high-quality inventions are sold under bidding competition. Asymmetric information problems are shown to be solved by …