| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP6079 |
| DP6079 A Dynamic Equilibrium Model of Firm's Life Cycle and Mergers as Efficient Reallocation | |
| Masako Ueda; Kyriakos Frantzeskakis | |
| 发表日期 | 2007-02-14 |
| 出版年 | 2007 |
| 语种 | 英语 |
| 摘要 | A few recent contributions have claimed that in high-tech industries?where innovation is often cumulative and products include many components which are protected by patents in the hands of many different patent holders?the cost of obtaining all necessary licenses is too high. Some have even requested sweeping policy reforms to deal with the so-called royalty stacking problem. In this Essay we find that the empirical evidence?including new evidence for the 3G telecom industry?does not corroborate the gloomy predictions of the proponents of the royalty stacking hypothesis. A careful look at the theoretical underpinnings of this hypothesis explains the lack of empirical support. First, three necessary conditions must be satisfied for a royalty stacking problem to exist: (a) innovation must be cumulative, so that the patents are complementary; (b) there must be many patents for a given product; and (c) the many patents must be held by numerous, distinct rights holders. Second, royalty stacking may not be a problem even if the three necessary conditions are met; i.e., the three necessary conditions are not sufficient. And, third, several market mechanisms, such as cross licensing or voluntary patent pools, can be used to mitigate the costs of multiple concurrent patent negotiations. We conclude that the so-called royalty stacking problem is more myth than reality and that there is no reason to adopt the dramatic reforms in antitrust and patent law that have been recently proposed by, inter alia, Lemley and Shapiro (2006). |
| 主题 | Industrial Organization |
| 关键词 | Excessive royalties Hold up Innovation Mobile telecommunications Patent licensing |
| URL | https://cepr.org/publications/dp6079 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/534918 |
| 推荐引用方式 GB/T 7714 | Masako Ueda,Kyriakos Frantzeskakis. DP6079 A Dynamic Equilibrium Model of Firm's Life Cycle and Mergers as Efficient Reallocation. 2007. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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