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on Intellectual Property Rights |
| By: | Haeussler, Carolin; Harhoff, Dietmar; Mueller, Elisabeth |
| Abstract: | This paper investigates how patent applications and grants held by new ventures improve their ability to attract venture capital (VC) financing. We argue that investors are faced with considerable uncertainty and therefore rely on patents as signals when trying to assess the prospects of potential portfolio companies. For a sample of VC-seeking German and British biotechnology companies we have identified all patents filed at the European Patent Office (EPO). Applying hazard rate analysis, we find that in the presence of patent applications, VC financing occurs earlier. Our results also show that VCs pay attention to patent quality, financing those ventures faster which later turn out to have high-quality patents. Patent oppositions increase the likelihood of receiving VC, but ultimate grant decisions do not spur VC financing, presumably because they are anticipated. Our empirical results and interviews with VCs suggest that the process of patenting generates signals which help to overcome the liabilities of newness faced by new ventures. |
| Keywords: | biotechnology, intellectual property rights, patents, R&D and venture capital |
| JEL: | G24 L20 L26 O30 O34 |
| Date: | 2009 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:zewdip:7529&r=ipr |
| By: | Laura Magazzini; Fabio Pammolli; Massimo Riccaboni; Maria Alessandra Rossi |
| Abstract: | The prominent role played by patents within the pharmaceutical domain is unquestionable. In this paper we take an unusual perspective and focus on a relatively neglected implication of patents: the effect of patent-induced information disclosure (of both successes and failures) on the dynamics of R&D and market competition. The study builds upon the combination of two large datasets, linking the information about patents to firm level data on R&D projects and their outcome. Two case studies in the fields of anti-inflammatory compounds and cancer research complement our analysis. We show the important role played by patent disclosure in shaping firms technological trajectories through the possibility of reciprocal monitoring in a context of parallel research efforts, and suggest the importance of enhancing the diffusion of information concerning failures, not only to avoid wasteful duplication of innovative efforts, but also as a tool for the identification of promising research trajectories. This paper is the result of the "R&D competition" research project carried out jointly with Adrian Towse and Martina Garau of the Office of Health Economics, London, UK. A preliminary draft of the paper has been presented to the DRUID Summer Conference 2006 (Copenhagen), and to the 11th ISS Conference (Sophia-Antipolis). |
| Keywords: | patent disclosure; innovation; r&d competition |
| JEL: | D23 D83 O34 |
| Date: | 2009–06 |
| URL: | http://d.repec.org/n?u=RePEc:trt:disawp:0902&r=ipr |
| By: | WIPO WORLD INTELLECTUAL PROPERTY ORGANIZATION. |
| Abstract: | Indigenous and local communities justly cherish traditional knowledge (TK) as a part of their very cultural identities. Maintaining the distinct knowledge systems that give rise to TK can be vital for their future well-being and sustainable development and for their intellectual and cultural vitality. For many communities, TK forms part of an holistic world-view, and is inseparable from their very ways of life and their cultural values, spiritual beliefs and customary legal systems. This means that it is vital to sustain not merely the knowledge but the social and physical environment of which it forms an integral part.[WIPO NO 2; 920(E)] |
| Keywords: | Traditional Knowledge; Defensive Protection; Intellectual Property |
| Date: | 2009 |
| URL: | http://d.repec.org/n?u=RePEc:ess:wpaper:id:2001&r=ipr |
| By: | Knockaert, M.; Ucbasaran, D.; Wright, M.; Clarysse, B. (Vlerick Leuven Gent Management School) |
| Abstract: | The increased pressure put on public research institutes to commercialize their research results has given rise to an increased academic interest in technology transfer in general and science based entrepreneurial firms specifically. By building on innovation speed and knowledge literatures, this paper aims to improve understanding of how tacit knowledge can be effectively transferred from the research institute to the science based entrepreneurial firm. More specifically, we assess under which conditions tacit knowledge contributes to the generation of innovation speed, which is a crucial success parameter for technology based ventures. Using an inductive case study approach, we show that tacit knowledge can only be transferred effectively when a substantial part of the original research team joins the new venture as founders. Our analysis also reveals that the mere transfer of tacit knowledge is insufficient to ensure the successful commercialization of technology. Commercial expertise is also required on the condition that the cognitive distance between the scientific researchers and the person responsible for market interaction is not too large. Our findings have implications for science based entrepreneurs, technology transfer officers, venture capitalists, policy makers and the academic community. |
| Keywords: | science based entrepreneurial firms; tacit knowledge; technology transfer; innovation speed; cognitive distance |
| Date: | 2009–04–04 |
| URL: | http://d.repec.org/n?u=RePEc:vlg:vlgwps:2009-07&r=ipr |
| By: | Shefali Sharma |
| Abstract: | The paper broadly examines the core trade interests of the EU and India, the content of the negotiations and outlines some key concerns of a potential deal for India in the areas of goods, services and investments, intellectual property rights and government procurement. The final content of a free trade deal between the two holds major implications for policy space, livelihoods and other public interest concerns for India. The objective of the paper is to highlight some of the key concerns of a potential FTA that deserve critical attention based on a wider political economical perspective. [WP No. 11]. |
| Keywords: | government, FTA, economical, India, EU, investments, services, investments, intellectual property rights, |
| Date: | 2009 |
| URL: | http://d.repec.org/n?u=RePEc:ess:wpaper:id:2031&r=ipr |