We investigate how intangible capital in form of intellectual property, such as patents, might mitigate financing … constraints. While scholars have already argued that patents might have a signalling value reducing information asymmetries … between borrowers and lenders, we quantify the value of using patents as collateral with regard to capital access. Although …

fall monotonically over time to stimulate initial R&D investments. Alternatively, with a constant R&D subsidy, patents …

entrepreneurial effort allocated to high-quality invention projects. Using data on patents granted to small firms and individuals, we …

-competitive effects of patent pools for complementary patents naturally extend for dynamic innovation incentives. However, this simple … conclusion may not hold if we entertain the possibility that patents are probabilistic and can be invalidated in court. In such a … case, the licensing fees reflect the strength of patents. Patent pools of complementary patents can be used to discourage …

entrepreneurial effort allocated to high-quality invention projects. Using data on patents granted to small firms and individuals, we …

patents make R&D more attractive, but the effect on static efficiency is nonmonotonic. In a North.South model, where only the …

previous measures of patent scope (i.e. the number of patent classes, the number of citations made by future patents, and the … then demonstrate the power of this instrument by examining standard-essential patents. We show that an (exogenous …) diminishment of patent scope leads to patents being much less likely to be declared standard-essential …