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and patent clearance. As a consequence, device-level licensing would likely have a chilling effect on innovation and …: Licensing at a value chain level where transaction costs are minimal; and licensing in a way that promotes downstream innovation …
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I introduce and analyze an equilibrium model of discovery, innovation, patenting and infringement. Firms that innovate … another firm's patent. If adaptation requires technology previously discovered by another firm, then the firm faces no direct … cost but may infringe another firm's patent and pay a licensing royalty. The main analysis considers the desirability and …
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Formal institutions, e.g., regulations, are considered crucial determinants of entrepreneurship, but what enables regulatory change when there is a regulatory void, meaning entrepreneurship clashes with existing regulations? Drawing on public choice theory, we hypothesize that regulatory freedom...
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