Abstract
Academic inventions are key drivers of technical progress in modern economies, and exclusive licensing has become the dominant means of transfer to the private sector. However, the strong licensee incentives generated by exclusive academic licensing are generally assumed to come at the expense of discouragement or diversion of research by nonlicensees. Using data from university campuses and national research laboratories we find that, after exclusive licensing, forward citations by private sector nonlicensees actually increase. An unanticipated exclusive license appears to be a signpost pointing to commercially relevant innovation pathways that nonlicensees follow with successful patented research. Tests using multiple pre-license information disclosures support this signaling hypothesis.
| Original language | English (US) |
|---|---|
| Pages (from-to) | 282-303 |
| Number of pages | 22 |
| Journal | Journal of Economic Behavior and Organization |
| Volume | 137 |
| DOIs | |
| State | Published - May 1 2017 |
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All Science Journal Classification (ASJC) codes
- Economics and Econometrics
- Organizational Behavior and Human Resource Management
Cite this
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Academic patent licenses : Roadblocks or signposts for nonlicensee cumulative innovation? / Drivas, Kyriakos; Lei, Zhen; Wright, Brian D.
In: Journal of Economic Behavior and Organization, Vol. 137, 01.05.2017, p. 282-303.Research output: Contribution to journal › Article
TY - JOUR
T1 - Academic patent licenses
T2 - Roadblocks or signposts for nonlicensee cumulative innovation?
AU - Drivas, Kyriakos
AU - Lei, Zhen
AU - Wright, Brian D.
PY - 2017/5/1
Y1 - 2017/5/1
N2 - Academic inventions are key drivers of technical progress in modern economies, and exclusive licensing has become the dominant means of transfer to the private sector. However, the strong licensee incentives generated by exclusive academic licensing are generally assumed to come at the expense of discouragement or diversion of research by nonlicensees. Using data from university campuses and national research laboratories we find that, after exclusive licensing, forward citations by private sector nonlicensees actually increase. An unanticipated exclusive license appears to be a signpost pointing to commercially relevant innovation pathways that nonlicensees follow with successful patented research. Tests using multiple pre-license information disclosures support this signaling hypothesis.
AB - Academic inventions are key drivers of technical progress in modern economies, and exclusive licensing has become the dominant means of transfer to the private sector. However, the strong licensee incentives generated by exclusive academic licensing are generally assumed to come at the expense of discouragement or diversion of research by nonlicensees. Using data from university campuses and national research laboratories we find that, after exclusive licensing, forward citations by private sector nonlicensees actually increase. An unanticipated exclusive license appears to be a signpost pointing to commercially relevant innovation pathways that nonlicensees follow with successful patented research. Tests using multiple pre-license information disclosures support this signaling hypothesis.
UR - http://www.scopus.com/inward/record.url?scp=85017293222&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=85017293222&partnerID=8YFLogxK
U2 - 10.1016/j.jebo.2017.03.018
DO - 10.1016/j.jebo.2017.03.018
M3 - Article
AN - SCOPUS:85017293222
VL - 137
SP - 282
EP - 303
JO - Journal of Economic Behavior and Organization
JF - Journal of Economic Behavior and Organization
SN - 0167-2681
ER -