-up problem between these firms. Nevertheless, it may raise royalty rates and reduce output as compared to non … discourages entry and reduces innovation incentives, while horizontal integration always benefits from entry and innovation …

innovation alone, it is not clear how obtaining IP rights will impact the choice between licensing product rights and continuing …The importance of intellectual property (IP) rights for commercializing innovation is well established. Moreover …, separate streams of literature have shown a positive relationship between IP rights and both product licensing and third …