innovation strategy reflects the patent race motives and hedging demand of defendant firms against future litigation. These real …Using novel inter-firm patent litigation data, we show that defendant firms become financially constrained, reduce … innovation activity, and shift toward exploitative innovation leveraging past experience and expertise. The exploitative …

Critics claim that patent screening is ineffective, granting low-quality patents that impose unnecessary social costs …. We develop an integrated framework, involving patent office examination, fees, and endogenous validity challenges in the … courts, to study patent screening both theoretically and quantitatively. In our model, some inventions require the patent …

We investigate the causal effect of patent rights on cumulative innovation, using large-scale data that approximate the … patent universe in its technological and economic variety. We introduce a novel instrumental variable for patent invalidation … that exploits personnel scarcity in post-grant opposition at the European Patent Office. We find that patent invalidation …

We construct a tractable general equilibrium model of cumulative innovation and growth, in which new ideas strictly … lower than the social plannerś benchmark, which suggests a role for patent policy. We focus on a "non-infringing inventive … the rate of innovation, as well as a separate optimal required inventive step that maximizes welfare, with the former …

-competitive patent settlements and hold-ups in relation to standard setting processes, in addition to the modern focus on mergers that … potentially lessen incentives for innovation and on abuse of dominance/single firm exclusionary practices in IP-intensive network … importance for economic advancement and prosperity, having a direct bearing on innovation, growth and the diffusion of new …

supplemental information on IP litigation and patent portfolios. The rich survey information regarding firms’ general innovation …We contribute to the economic literature on patent litigation by taking a new perspective. In the past, scholars mostly … focused on specific litigation cases at the patent level and related technological characteristics to the event of litigation …

This paper provides a first comprehensive quantitative analysis of optimal patent policy in the global economy. We … application delivers three main results. First, the potential gains from international cooperation over patent policies are large …

that perfect patent protection is optimal under symmetric information, whereas this is not so if the licensor has private … for most patent protection levels, yet the latter dominates the former in the presence of an optimal policy for each …. This allows us to derive a combination of patent protection and R&D subsidy that yields the first-best results under …

initial inventor on the one hand and overall innovation incentives on the other hand. We find that incomplete patent … protection can positively affect overall innovation incentives while maintaining the advantageousness of patent protection over …From the viewpoint of an innovator a patent is a tradeoff between the right to exclude others from using the patented …