Patent Markets in the Global Knowledge Economy: Theory, Empirics and Public Policy Implications
The development of patent markets should allow for better circulation of knowledge and more efficient allocation of technologies at a global level. However, the beneficial role of patents has recently come under scrutiny by those favouring 'open' innovation, and important questions have been asked, namely: How can we estimate the value of patents? How do we ensure matching between supply and demand for such specific goods? Can these markets be competitive? Can we create a financial market for intellectual property rights? In this edited book, a team of authors addresses these key questions to bring readers up to date with current debates about the role of patents in a global economy. They draw on recent developments in economic analysis but also ground the discussion with the basics of patent and knowledge economics. Striking a balance between institutional analysis, theory and empirical evidence, the book will appeal to a broad readership of academics, students and practitioners.
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analysis antitrust assess auctions Bessen buyers companies competition coordination econometric effect essential patents estimated European Commission European Patent ex ante exchange financial products firms forward citations funds Gambardella Guellec Harhoff hold-up industry information asymmetries infringement injunction institutions intellectual property Intellectual Ventures intermediaries investors IPR asset market IPR financial market IPR market Journal of Economic knowledge Lemley licensing litigation market for patents Ménière methods negotiations number of patents open innovation organizations partners patent applications patent holder patent markets patent metrics Patent Office patent owners patent pools patent portfolio patent system patent thicket patent trolls patent value patents pending potential prior art protection public research Rational ignorance renewal fees revenue royalty Schankerman sector sellers Shapiro standard strategic studies survey technology transfer tion Tobin’s Q trade transaction costs TTOs uncertainty universities USPTO valorization valuation value of patents vehicle weak patent