From a firm’s perspective two competing forces are driving the decision to invest in innovation. On the one hand …, innovative performance is an important driver of profitability and growth. On the other hand, investments in innovation suffer … firms may protect their inventions by means of intellectual property rights, such as patents. By taking out a patent …

otherwise visible to society. We develop a structural model of initial and follow-on innovation to determine the effects of such … a shift in disclosure on overall welfare in industries characterized by cumulative innovation. We find that while … significant decline in follow-on innovation. …

We investigate the causal effect of patent rights on cumulative innovation, using large-scale data that approximate the … patent universe in its technological and economic variety. We introduce a novel instrumental variable for patent invalidation … that exploits personnel scarcity in post-grant opposition at the European Patent Office. We find that patent invalidation …

Recent innovation literature has documented the benefits of cross-pollination of ideas across a wide set of industries …

Recent empirical evidence has shown that firm’s innovation behavior exhibits high persistency but not much is known … environment and asks how local knowledge spillovers affect firms' innovation persistence. The empirical analysis draws upon a … representative panel data set of firms in Germany from 2002-2016, complemented by detailed geographic information of patent activity …