In this paper, we develop a theoretical model of university licensing to explain why university license contracts often include payment types that differ from the fixed fees and royalties typically examined by economists. Our findings suggest that milestone payments and annual payments are...

In this paper, we develop a theoretical model of university licensing to explain why university license contracts often include payment types that differ from the fixed fees and royalties typically examined by economists. Our findings suggest that milestone payments and annual payments are...

This paper takes as its unit of analysis the disclosure of an invention by an academic scientist to the university technology transfer office and examines the factors that lead some inventions to be licensed by firms while others are not. The analyses show that inventors' academic output, as...