How Valuable are Patent Blocking Strategies?

in Review of Industrial Organization (2020)

Firm Acquisitions by Family Firms: A Mixed Gamble Approach

in Family Business Review (2019)

Information Ambiguity, Patents and the Market Value of Innovative Assets

in Research Policy (2019)

Ownership Concentration and the Innovativeness of Corporate Ventures

in Research Policy (2018)

Uncertain Intellectual Property Rights, Access to External Funding and New Product Development in Start-up Firms

in Industry and Innovation (2017)

Knowledge Creates Markets: The Influence of Entrepreneurial Support and Patent Rights on Academic Entrepreneurship

in European Economic Review (2016)

R&D Collaboration with Uncertain Intellectual Property Rights

in Review of Industrial Organization (2015), 46(2), 183-204

Patent pendencies create uncertainty in research and development (R&D) collaboration, which can result in a threat of expropriation of unprotected knowledge, reduced bargaining power and enhanced search ... [more ▼]

Patent pendencies create uncertainty in research and development (R&D) collaboration, which can result in a threat of expropriation of unprotected knowledge, reduced bargaining power and enhanced search costs. We show that - depending of the type of collaboration partner and the size of the company - uncertain intellectual property rights (IPR) lead to reduced collaboration between firms and can, hence, hinder knowledge production. This has implications for technology policy as R&D collaborations are exempt from antitrust legislation in order to increase R&D in the economy. We argue that a functional IPR system is needed for successful utilization of this policy. [less ▲]

Information Ambiguity and Firm Value

in Applied Economics Letters (2015), 22(10), 843-847

Resource Complementarity and Value Capture in Firm Acquisitions: The Role of Intellectual Property Rights

in Strategic Management Journal (2014)

Extant literature holds that firm acquisitions create value through innovation if the knowledge bases of the acquirer and the target complement each other. Little is known about the value that patents ... [more ▼]

Extant literature holds that firm acquisitions create value through innovation if the knowledge bases of the acquirer and the target complement each other. Little is known about the value that patents associated with a target’s knowledge convey to the acquirer, i.e., their value in securing market exclusion and freedom to operate in R&D. We argue that such property rights hold preemptive power allowing firms to capture the value from combining complementary technologies and to realize gains from trade in strategic factor markets. Our results for a sample of 1,428 acquisitions indicate that—controlling for technological value—acquired preemptive power is an important determinant of the acquisition price, particularly when the acquirer is technology intensive and acquired patents are highly related to the acquirer’s knowledge base. [less ▲]

Is Success Hereditary? Evidence on the Performance of Spawned Ventures

in Small Business Economics (2013)

A common phenomenon in entrepreneurship is that employees turn away from employment to found their own businesses. Prior literature discusses the former employers’ characteristics that influence the ... [more ▼]

A common phenomenon in entrepreneurship is that employees turn away from employment to found their own businesses. Prior literature discusses the former employers’ characteristics that influence the creation of entrepreneurial ventures. An investigation of whether these characteristics also affect the success of the spawned ventures is missing so far. This paper contributes to the literature by showing that entrepreneurial ventures spawned by well performing firms are financially more successful than ventures stemming from poorly performing firms. This suggests that spawned entrepreneurs are able to exploit valuable knowledge from their previous employers which impacts their ventures’ performance positively. The analysis is based on a linked employee–employer data set for the Netherlands for the period 1999–2004. [less ▲]