Recent surveys report that firms claim they do not rely heavily on patents in order toappropriate a return on their innovation. Yet, firms do patent, as indicated by the largenumber of patents that are granted. This paper offers a possible resolution to this puzzle.It takes a simplified version...

We investigate whether patents on human genes have affected follow-on scientific research and product development. Using administrative data on successful and unsuccessful patent applications submitted to the US Patent and Trademark Office, we link the exact gene sequences claimed in each...

We investigate whether patents on human genes have affected follow-on scientific research and product development. Using administrative data on successful and unsuccessful patent applications submitted to the US Patent and Trademark Office, we link the exact gene sequences claimed in each...

Patents have long been regarded as the 'gold standard' of intellectual property protection. In 'Little patents and big secrets: managing intellectual property', Anton and Yao (2004) call this traditional view into question by finding that firms keep their most important innovations secret. This...

We explore the tail of patented invention value distributions by using value estimates obtained directly from patent holders. The paper focuses on those full-term German patents of the application year 1977 which were held by West German and U.S. residents. The most valuable patents in our data...

Mergers and acquisitions (M&As) constitute a disruption to the working environment of the inventive labor force of the acquired company. If inventors would respond with a decline of their patent productivity or departure from the firm this can be detrimental to the innovative process within the...

The knowledge produced by academic scientists has been identified as a potential key driver of technological progress. Recent policies in Europe aim at increasing commercially orientated activities in academe. Based on a sample of German scientists across all fields of science we investigate the...