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 …

invention (through patents) and the clinical trials data submitted for market approval (through data exclusivity). Patent … market exclusivity on the likelihood of drug commercialization. The effect is largely driven by patent invalidations early in …

. Where licensing fails, follow-on innovation is blocked unless firms gain FTO through patent invalidation. Using large …-scale data from post-grant oppositions at the European Patent Office, we find that patent invalidation increases follow …

firms may protect their inventions by means of intellectual property rights, such as patents. By taking out a patent … functioning of the contemporary patent system. We find that patenting firms are being less confronted with imitation. The effect … of patents on the dissemination of R&D findings is, however, insignificant. Therefore, we conclude that patent …