Using novel inter-firm patent litigation data, we show that defendant firms become financially constrained, reduce … innovation strategy reflects the patent race motives and hedging demand of defendant firms against future litigation. These real … consequences of patent litigation are evident among firms in similar product markets, indicating significant interplay between …

Patent settlements between rivals restrain competition in many different ways. Antitrust requires them to be … "proportional" in that their anti-competitive effects are commensurate with the firms' expectations about (counterfactual) patent …

invention (through patents) and the clinical trials data submitted for market approval (through data exclusivity). Patent … market exclusivity on the likelihood of drug commercialization. The effect is largely driven by patent invalidations early in …

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 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 …

The current approach for determining when courts should award injunctions in patent disputes involves a myopic focus on … sometimes could rely instead on a consideration far more relevant to the patent system's goal of promoting innovation: the …. v. FireFly Equipment, LLC, which held that injunctive relief may be appropriate when a defendant infringes a patent that …

Because it must rely on imperfect information, the patent system will inevitably make mistakes. To determine how the … picture of the consequences of error in either direction. On the one hand, erroneous patent awards impose unjustified costs …. On the other hand, erroneous patent denials discourage successful inventors and reduce incentives to create in the future …

If a litigated patent has previously been licensed to a third party, the courts generally adopt the terms of the prior … trivialized (and generally false) presumption that a patent license is like a commodity, with the patentee charging a common price … patent holders rationally cut off the bottom segment of the licensing market, creating substantial deadweight loss. This …

How does patent enforcement affect subsequent innovation? I exploit patent infringement litigation in the United States … to analyze the effect of patent enforcement on cumulative innovation. The results imply that subsequent innovation … patent and reductions in asymmetric information are particular driver of the increase in follow-on innovation. Although there …