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Patent licensing and research exemption

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Author Info

  • Dusanee Kesavayuth

    ()
    (Department of Economics, University of Essex)

Abstract

Within an environment of sequential innovations, real world evidence suggests that the licensing decision of the initial patent can occur either before or after the R&D investment of the follow-on invention. The possibility of licensing after the follow-on invention exists due to the presence of research exemption. This paper examines how the research exemption influences the licensor''s decision to license prior to the discovery of the follow-on invention. Within a three firm setting, the paper reveals that the research exemption does not alter the licensing decision while promoting a stream of future inventions. This provides an argument in support of research exemption as legal scheme.

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File URL: http://www.accessecon.com/Pubs/EB/2009/Volume29/EB-09-V29-I2-P43.pdf
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Bibliographic Info

Article provided by AccessEcon in its journal Economics Bulletin.

Volume (Year): 29 (2009)
Issue (Month): 2 ()
Pages: 944-956

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Handle: RePEc:ebl:ecbull:eb-09-00089

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Keywords: patent; licensing; research exemption;

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  1. Nagaoka, Sadao & Aoki, Reiko, 2006. "Economics of Research Exemption," IIR Working Paper 06-04, Institute of Innovation Research, Hitotsubashi University.
  2. James Bessen & Eric Maskin, 2006. "Sequential Innovation, Patents, and Imitation," Economics Working Papers 0025, Institute for Advanced Study, School of Social Science.
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