depend on how changes in ownership affect markups versus efficiency. We find that owner fixed effects contribute very little … to the performance of brands. On average, foreign ownership tends to raise costs and lower appeal. Using the estimated …

We study the effect of the fragmentation of intellectual property rights on optimal patent design. The major finding is …, which is socially costly. However, to preserve the incentives to innovate, if a patent is granted the strength of protection … should be generally higher than in the stand-alone case. -- Intellectual Property Rights ; Fragmentation ; Patent …