We examine commonly observed forms of payment, such as milestones, royalties, or consulting contracts as ways of engaging inventors in the development of licensed inventions. Our theoretical model shows that when milestones are feasible, royalties are not optimal unless the licensing firm is...

In this paper, we develop a theoretical model of university licensing to explain why university license contracts often include payment types that differ from the fixed fees and royalties typically examined by economists. Our findings suggest that milestone payments and annual payments are...

This article examines the involvement of agricultural and life science faculty at U.S. land grant universities in two types of university-industry relations: academic engagement (sponsored research, industry collaborations, and presentations), academic commercialization (patenting, licensing,...

This paper investigates the impact of federal extramural research funding on total expenditures for life sciences research and development (R&D) at U.S. universities, to determine whether federal R&D funding spurs funding from non-federal (private and state/local government) sources. We use a...

This paper develops a game-theoretic model that predicts when a university invention is commercialized in a start-up firm rather than an established firm. The model predicts that university inventions are more likely to occur in start-ups when the technology transfer officers (TTOs) search cost...

Cross-field citation probabilities appear to be symmetric for mutually citing fields. Scientific influence is asymmetric within fields, and occurs primarily from top institutions to those less highly ranked. Still, there is significant reverse influence on higher-ranked schools. We also find...

Philanthropy plays a major role in university-based scientific, engineering and medical research in the United States contributing over $4Billion annually to operations, endowment and buildings devoted to research. When combined with endowment income, university research funding from science...

This paper analyzes how institutional differences affect university entrepreneurship. We focus on ownership of faculty inventions, and compare two institutional regimes; the US and Sweden. In the US, the Bayh Dole Act gives universities the right to own inventions from publicly funded research,...

Historically, commercial use of university research has been viewed in terms of spillovers. Recently, there has been a dramatic increase in technology transfer through licensing as universities attempt to appropriate the returns from faculty research. This change has prompted concerns regarding...

U.S. universities have experienced a shift in research funding away from federal and towards private industry sources. This paper evaluates whether the source of funding - federal or private industry - is relevant for commercialization of research outputs. We link person-level grant data from 22...