Until the twenty one century, innovation and ideas have been a valuable asset to accelerate the process of technological catch-up, sustain productivity growth and competitiveness. To determine where innovation is standing up, countries and organizations need to adapt innovation capacity to...

Patents are the result of risky and costly R&D and the developer will try to recover its costs (and earn a return) through the sale of products covered by the patent, licensing others to use the invention (often a product or process), or through the outright sale of the patent.Patents are...

Using panel data on top management characteristics and a management quality factor constructed using common factor analysis on individual management quality measures, we analyze the relation between top firm management quality and corporate innovation inputs and outputs. We show that top...

Numerous works have examined the finance-related implications of intellectual property that is generated internally or acquired through M&A activity. The transfer of intellectual property via the secondary market for patents has received less attention. This paper fills that gap by asking how...

We study how patenting enhances customer capital and creates financial value. We find that firms with more and higher quality patents develop more customer capital as measured by better customer perceptions of product innovativeness and quality. To establish causality, we exploit the exogenous...

I propose a tractable model integrating dynamic internal capital allocation with imperfect patent protection, thereby endogenizing patent war as well as financing constraints. I emphasize the central importance of capital intangibility for corporate decisions when intangibles are insecure. The...

Many countries have strengthened their patent laws over the past 20 years as they have implemented their WTO intellectual property obligations. This benefits American firms, many of which lobbied for the establishment of enforceable intellectual property rights within the WTO framework. It is...

Over the past few years, several studies have criticized examination procedures at both the United States Patent and Trade Mark Office (USPTO). Criticism focused particularly on differences between examiners and inventors regarding the patent-citation process. Patent citation is a highly...

Under well-settled patent law, the decision regarding whether to grant or deny a patent turns on technical fact-finding. Recommendations made in recent patent system reform reports issued by the Federal Trade Commission (FTC) and the National Academy of Sciences (NAS) could have a substantial...

Patent application numbers grow exponentially in many industries, a phenomenon that has been linked to high fragmentation of patent ownership. Contradicting these findings and theoretical arguments, we show that such fragmentation is not a precondition for sudden and strong increases in...