We study the effect of the fragmentation of intellectual property rights on optimal patent design. The major finding is that when several complementary innovative components must be assembled to operate a new technology, the patentability requirements should be stronger than in the case of...

We study the effect of the fragmentation of intellectual property rights on optimal patent design. The major finding is that when several complementary innovative components must be assembled to operate a new technology, the patentability requirements should be stronger than in the case of...

How do technology innovators, business executives, and venture capitalists manage the technical elements of business risk when developing and launching new products? Overcoming technical risks requires crossing the so-called valley of death—the gap between demonstrating the soundness of a...

There is intense public interest in the role of universities as a source of science-based innovations. To increase our understanding of this role, this book compares the economic effects of university research in the United States and Japan--countries similar in economic and technological...

We study a quality-ladder model of endogenous growth that produces stochastic leadership cycles. Over a cycle, industry leaders can innovate several successive times in the same industry, gradually increasing the magnitude of their technological lead before being replaced by a new entrant....

We study a quality-ladder model of endogenous growth that produces stochastic leadership cycles. Over a cycle, industry leaders can innovate several successive times in the same industry, gradually increasing the magnitude of their technological lead before being replaced by a new entrant....