Difficulty in extracting scientific and research findings from EU universities and placing such knowledge at the commercial disposal of innovation-dependent firms and industries is a cause for grave concern by the European Commission and many of its member states and regions, particularly when...

Inventors generally know more about their inventions than what is written down in patent applications. Because they possess this tacit knowledge, inventors may need to play an active role when patents are commercialized. We build on Arora (1995) and model firm-inventor cooperation in the...