| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w24526 |
| 来源ID | Working Paper 24526 |
| How Redeployable are Patent Assets? Evidence from Failed Startups | |
| Carlos J. Serrano; Rosemarie Ziedonis | |
| 发表日期 | 2018-04-23 |
| 出版年 | 2018 |
| 语种 | 英语 |
| 摘要 | Entrepreneurial firms are important sources of patented inventions. Yet little is known about what happens to patents “released” to the market when startups fail. This study provides a first look at the frequency and speed with which patents originating from failed startups are redeployed to new owners, and whether the value of patents is tied to the original venture and team. The evidence is based on 1,766 U.S. patents issued to 285 venture capital-backed startups that disband between 1988 and 2008 in three innovation-intensive sectors: medical devices, semiconductors, and software. At odds with the view that the resale market for patented inventions is illiquid, we find that most patents from these startups are sold, are sold quickly, and remain “alive” through renewal fee payment long after the startups are shuttered. The patents tend to be purchased by other operating companies in the same sector and retain value beyond the original venture and team. We do find, however, that the patents and people sometimes move jointly to a new organization following the dissolution of the original venture, and explore the conditions under which such co-movement is more likely. The study provides new evidence on a phenomenon—of active markets for buying and selling patents—underexplored in the literature and consequential for both entrepreneurial and established firms. |
| 主题 | Financial Economics ; Financial Institutions ; Corporate Finance ; Industrial Organization ; Market Structure and Firm Performance ; Firm Behavior ; Development and Growth ; Development ; Innovation and R& ; D |
| URL | https://www.nber.org/papers/w24526 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/582199 |
| 推荐引用方式 GB/T 7714 | Carlos J. Serrano,Rosemarie Ziedonis. How Redeployable are Patent Assets? Evidence from Failed Startups. 2018. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w24526.pdf（441KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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