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The real options investment theory shows that greater uncertainty about market revenues reduces current R&D investment by increasing the value of waiting. This paper presents empirical evidence that patent protection mitigates the effect market uncertainty on R&D investment.
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, this paper examines the occurrence of IP litigation cases in Belgian firms using the 2013 Community Innovation Survey with … supplemental information on IP litigation and patent portfolios. The rich survey information regarding firms’ general innovation … imitation and incremental innovation. Our results indicate that when controlling for firms’ IP portfolio, the composition of …
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We use an exogenous change in German Federal law to examine how entrepreneurial support and the ownership of patent rights influence academic entrepreneurship. In 2002, the German Federal Government enacted a major reform called Knowledge Creates Markets that set up new infrastructure to...
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differentiation and component innovation. We show that, as the complexity of the product spaces increases, stronger patent regimes … yield lower rates of innovation, lower product quality and lower consumers' welfare. -- Patents ; appropriability of … innovation ; complex product industries ; industrial dynamics …
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