2006/04 | LEM Working Paper Series | |
The Market for Patents in Europe |
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Alfonso Gambardella, Paola Giuri, Alessandra Luzzi |
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Keywords | ||
Licensing, Patent scope, Complementary
assets, Firm size, Markets for technology.
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JEL Classifications | ||
D45, O32, O34.
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Abstract | ||
By using the PatVal-EU dataset we find that
the most important determinant of patent licensing is firm size. Patent
breadth, value, protection, and other factors suggested by the literature also
have an impact, but not as important. In addition, most of these factors affect
the willingness to license, but not whether a license actually takes place. We
discuss why this suggests that there are transaction costs in the markets for
technology. The issue is important because many potential licenses are not
licensed suggesting that the markets for technology can be larger, with implied
economic benefits.
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