. Where licensing fails, follow-on innovation is blocked unless firms gain FTO through patent invalidation. Using large …We study the blocking effect of patents on follow-on innovation by others. We posit that follow-on innovation requires … freedom to operate (FTO), which firms typically obtain through a license from the patentee holding the original 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 …

discourages entry and reduces innovation incentives, while horizontal integration always benefits from entry and innovation …

independent of the patent grant date, and productive efficiency considerations will result in licensing as early as possible after … actual grant of a patent may facilitate trade in the market for ideas by establishing the scope of IP rights. Employing a … dataset which combines information about the timing of patent grants and cooperative licensing, we find that pre …

In several key industries, including semiconductors, biotechnology, computer software, and the Internet, our patent … system is creating a patent thicket: an overlapping set of patent rights requiring that those seeking to commercialize new … technology obtain licenses from multiple patentees. The patent thicket is especially thorny when combined with the risk of hold …

When commentators discuss innovation’s externalities, they often classify them into one of two categories. On the … positive externalities, or “spillovers” side, legal and economics scholars often speak of the benefits innovation confers on … other innovators. Future innovators profit from past innovation as they “stand on the shoulders of giants” to develop …

way firms profit from innovation according to the stage of industry evolution. We argue that in early stages of industry …

ownership on corporate innovation using data on patent activities from Chinese listed manufacturing firms covering the period …Corporate innovation plays a crucial role in maintaining competitiveness and enhancing firm value. However, despite … being the world's leading manufacturing nation, the role of managerial ownership in fostering innovation within the Chinese …