Anand, Bharat N.; Galetovic, Alexander - In: Journal of Economics & Management Strategy 9 (2000) 4, pp. 615-642
We study how the sequence of financing of R&D varies according to the ease with which property rights over knowledge can be defined. There are two financiers: a venture capitalist (VC) and a corporation. The knowledge acquired in costly research becomes embodied in the researcher's human...