We analyze technology investment and adoption by a product developer who faces uncertainty over whether any existing patent covers a new technology. If there is a patent, the (non-producing) patentee may choose to “lurk”—i.e., to strategically delay enforcement—hoping that the developer...

It has long been recognized in Europe and elsewhere that standards-development organizations (SDOs) may adopt policies that require their participants to license patents essential to the SDO’s standards (standards-essential patents or SEPs) to manufacturers of standardized products...