declines by about 25 percent in the following 1 to 3 years. Patenting in important technologies, as well as a patent …

.S. Patent Office since 2001, we find that startups that win the patent “lottery” by drawing lenient examiners have, on average …, 55% higher employment growth and 80% higher sales growth five years later. Patent winners also pursue more, and higher … quality, follow-on innovation. Winning a first patent boosts a startup's subsequent growth and innovation by facilitating …

.S. Patent Office since 2001, we find that startups that win the patent "lottery" by drawing lenient examiners have, on average …, 55% higher employment growth and 80% higher sales growth five years later. Patent winners also pursue more, and higher … quality, follow-on innovation. Winning a first patent boosts a startup's subsequent growth and innovation by facilitating …

.S. Patent Office since 2001, we find that startups that win the patent “lottery” by drawing lenient examiners have, on average …, 55% higher employment growth and 80% higher sales growth five years later. Patent winners also pursue more, and higher … quality, follow-on innovation. Winning a first patent boosts a startup’s subsequent growth and innovation by facilitating …