TY - JOUR
T1 - Application publication or confirmation of grant
T2 - Which matters more for academic technology transfer?
AU - Drivas, Kyriakos
AU - Lei, Zhen
AU - Wright, Brian D.
N1 - Funding Information:
We are grateful to the University of California Office of Technology Transfer, its Director, Bill Tucker and staff members for making this analysis possible. We thank Gaétan de Rassenfosse, Deepak Hegde and the participants of the 5th ZEW/MaCCI Conference on the Economics of Innovation and Patenting held in Mannheim, Germany on June 3–4, 2013. We also thank Alan Marco and the Office of the Chief Economist at the USPTO for providing us with the patent allowance data, and the Editor, Pierre Dubois and two referees for insightful comments. Financial support for this research was provided by the National Science Foundation (Award no. SMA-1064194 and SMA-1063806 ). Wright is a member of the Giannini Foundation. He completed work on this paper while a Visiting Professor at Swinburne University, Melbourne, Australia, in May–June 2017.
Publisher Copyright:
© 2017 Elsevier B.V.
PY - 2018/1
Y1 - 2018/1
N2 - We compare the effects of two functions of the patent system – application publication and confirmation of grant – on licensing of academic inventions. Application publication eighteen months after filing significantly increases the license hazard for exclusively licensed patents, and for inventions in the larger of the two major technology groups that we study (chemical, drugs and medical), implying an informational role of publication additional to that of academic publication. For the other major aggregate (computers, communications, electrical, electronic and mechanical), which necessarily includes a high proportion of nonexclusively licensed patents, we find no significant response. Patent grant has a generally insignificant effect on licensing hazard, consistent with efficient contingent pre-grant contracting, which significantly accelerates transfer in important technology fields.
AB - We compare the effects of two functions of the patent system – application publication and confirmation of grant – on licensing of academic inventions. Application publication eighteen months after filing significantly increases the license hazard for exclusively licensed patents, and for inventions in the larger of the two major technology groups that we study (chemical, drugs and medical), implying an informational role of publication additional to that of academic publication. For the other major aggregate (computers, communications, electrical, electronic and mechanical), which necessarily includes a high proportion of nonexclusively licensed patents, we find no significant response. Patent grant has a generally insignificant effect on licensing hazard, consistent with efficient contingent pre-grant contracting, which significantly accelerates transfer in important technology fields.
UR - http://www.scopus.com/inward/record.url?scp=85034028834&partnerID=8YFLogxK
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U2 - 10.1016/j.ijindorg.2017.10.005
DO - 10.1016/j.ijindorg.2017.10.005
M3 - Article
AN - SCOPUS:85034028834
VL - 56
SP - 204
EP - 228
JO - International Journal of Industrial Organization
JF - International Journal of Industrial Organization
SN - 0167-7187
ER -