In 1980 three Finnish companies established a research joint venture as a separate firm in order to develop semiconductors. This enterprise terminated in 1992 when the firm was sold. We study the RJV from the point of view of incomplete contacts, focusing on hold-up problems. Of particular...

The performance of the institutional structure protecting intellectual property is a matter of deep concern in determining economic well-being. Unfortunately, economic theory has been of little help in providing straightforward advice for policy-makers, the range of contradictory results...