This paper explores the decentralized licensing of complementary patents reading on a technology standard. We develop a model in which manufacturers must buy licenses from different patent owners in order to enter the market for differentiated standard-compliant products. We consider three...

This paper explores the decentralized licensing of complementary patents reading on a technology standard. We develop a model in which manufacturers must buy licenses from different patent owners in order to enterenter the market for differentiated standard-compliant products. We consider three...