This paper outlines the foundations of corporate governance. The discussion includes a review on the modern corporation, transaction costs theory, agency costs theory, legal investor protection, investor protection by corporate governance and its various mechanisms, as well as an overview of the...

India has a history of the patent acts starting form 1911. All happened was pre independence. The Patent Act, 1970 was the first patent act to the independent India. It had provision for only process patent but did not have any provision for product patent. Therefore the process could have been...

This paper has attempted a comprehensive investigation of the economic impact of patent holdout by (1) providing a theoretical foundation of patent holdout and its economic implications, (2) operationalizing this theory into several testable economic models, and (3) testing the models with...

Shareholder stewardship is a prominent topic in the field of corporate governance that has been high on the agenda of academics and policymakers for about a decade now. It is viewed by many as a necessary component to robust corporate governance and as a tool for long-term profitability....

We analyze non-cooperative Ramp;D investment by two firms that already hold patents that they can assert against each other with probabilistic success. The market structure results from stochastic innovation and patent litigation. Depending on the level of infringement fees, we highlight...

When rivals settle a patent dispute, they prefer to preserve the full monopoly profit, even if the patent is very likely invalid. The literature advocates comparing settlement outcomes to the expected result of litigation, but has not identified a comprehensive means of doing this. We show that...

This paper studies the problem of patent holdout. Part I reviews the economic theory of holdout, with a specific emphasis on patents. It shows that the ordinary concept of holdout refers to the non-transacting conduct of a property owner, and that “patent trespass” is a better...

Intellectual Property can be seen from different economic perspectives. On the one hand knowledge economy and the relation to IP provide the Macro-Economic-Perspective and on the other hand the Micro-Economic-Perspective analyses the IP-situation in a Knowledge Economy for a firm. Thus, this...

It is trite law that a director is a fiduciary to his or her company and must act in the interests of the company. However, identifying the “interests of the company” is not so straightforward. Different theories of the nature of the company and different stakeholders interested in the...

Independent director requirements have spread throughout Asia, generating diverse definitions, enforcement patterns and cadres of directors (Part I). Yet the proliferation itself, and some of its features, provide some support for convergence in corporate governance, especially in function...