sufficiently better at judging an idea's value and if it is sufficiently more costly to patent low than high value ideas, VCs …-run performance, but also infl ates their acquisition prices, and lowers their acquirers' overall profits. Patent law usefulness …

commercialized as well as whether this commercialization was profitable or not. Thus, this patent database measures technological … innovation. The dataset is complemented with indicators of patent quality (patent renewal, forward citations, and patent family …

This paper investigates how patent applications and grants held by new ventures improve their ability to attract … British biotechnology companies we have identified all patents filed at the European Patent Office (EPO). Applying hazard rate … analysis, we find that in the presence of patent applications, VC financing occurs earlier. Our results also show that VCs pay …

This paper investigates how patent applications and grants held by new ventures improve their ability to attract … British biotechnology companies we have identified all patents filed at the European Patent Office (EPO). Applying hazard rate … analysis, we find that in the presence of patent applications, VC financing occurs earlier. Our results also show that VCs pay …

offerings (IPOs). We show that VC-backed IPOs that have at least one patent at the time of the IPO substantially outperform …

British and German companies that seek venture capital (VC). We find that patent applications – as signals from ventures – are … positively related to VC-financing. Moreover, applications trigger institutionalized processes at the patent office, which can …

higher early growth rates and initial patent quality than non-VC-backed ones. VC-backing increases a startup's likelihood of …