Classical patent literature assumes that patents grant well-defined legal rights to exclude others from practicing an … invention. In this scenario, start-up companies benefit from the exclusive right to commercialize patent-protected inventions … and the certification effect of patents which signals the ventures’ “quality” to investors. If the decision about patent …

We analyze how frivolous patent-infringement claims made by non-practicing entities (NPEs, or "patent trolls") affect … driven by IT firms, a frequent target of NPEs. Increased access to financing, both venture capital and patent-backed lending …

I introduce and analyze an equilibrium model of discovery, innovation, patenting and infringement. Firms that innovate … another firm's patent. If adaptation requires technology previously discovered by another firm, then the firm faces no direct … cost but may infringe another firm's patent and pay a licensing royalty. The main analysis considers the desirability and …