We empirically examine the determinants of the price of patent licensing. We find factors affecting the profitability of patents and bargaining power of licensors and licensees are good predictors of the royalty rate of patent licensing, while proxies for the reservation price of licensors are...

Does an expansion of patent scope induce more innovative effort by firms? This article provides evidence on this question by examining firm responses to the Japanese patent reforms of 1988. Interviews with practitioners suggest the reforms significantly expanded the scope of patent rights in...

We empirically examine the determinants of the price of patent licensing. We find factors affecting the profitability of patents and bargaining power of licensors and licensees are good predictors of the royalty rate of patent licensing, while proxies for the reservation price of licensors are...

The existence of strong spillover' effects of private R&D increases the potential social contribution of R&D but may depress the private incentives to undertake it. R&D consortia offer a potentially effective means of internalizing this externality, and a number of prominent economists have...

Does an expansion of patent scope induce more innovative effort by firms? This article provides evidence on this question by examining firm responses to the Japanese patent reforms of 1988. Interviews with practitioners suggest the reforms significantly expanded the scope of patent rights in...

The existence of strong spillover' effects of private R&D increases the potential social contribution of R&D but may depress the private incentives to undertake it. R&D consortia offer a potentially effective means of internalizing this externality, and a number of prominent economists have...

Does an expansion of patent scope induce more innovative effort by firms? We examine responses to the Japanese patent reforms of 1988. Interviews with practitioners and professional documents for patent agents suggest the reforms significantly expanded the scope of patent rights. However,...