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Proofs and Prototypes for Sale: The Licensing of University Inventions
Abstract
Proponents of the Bayh-Dole Act argue that industrial use of federally funded research would be reduced without university patent licensing. Our survey of U.S. universities supports this view, emphasizing the embryonic state of most technologies licensed and the need for inventor cooperation in commercialization. Thus, for most university inventions, there is a moral-hazard problem with inventor effort. For such inventions, development does not occur unless the inventor's income is tied to the licensee's output by payments such as royalties or equity. Sponsored research from the licensee cannot by itself solve this problem. (JEL O31, O34, O38)
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Cited by
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Shane, S. (2004) · Journal of Business Venturing · doi:10.1016/s0883-9026(02)00114-3 · Cited by 417
Villani, E., Rasmussen, E., & Grimaldi, R. (2017) · Technological Forecasting and Social Change · doi:10.1016/j.techfore.2016.06.004 · Cited by 365
Siegel, D., Waldman, D., & Link, A. (1999) · National Bureau of Economic Research · doi:10.3386/w7256 · Cited by 300
Metadata
- Authors
- Jensen, R., & Thursby, M.
- Venue
- American Economic Review
- Publisher
- American Economic Association
- Published
- 2001-03-01
- Volume
- 91
- Issue
- 1
- Pages
- 240-259
- ISSN
- 0002-8282 (ISSN-L)
- OpenAlex
- W2017522108
- Cited by
- 1,159
- References
- 0
- FWCI
- 62.23
- Type
- journal article
- Language
- en
- Open access
- closed
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Data sources
Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
