Judd, Kenneth L.; Schmedders, Karl; Yeltekin, Sevin - 2007
There are two important rules in a patent race: what an innovator must accomplish to receive the patent and the … allocation of the benefits that flow from the innovation. Most patent races end before R&D is completed and the prize to the … accomplishment necessary to obtain a patent in a dynamic multistage innovation race. A planner, who cannot distinguish between …