Understanding the technology market for patents: New insights from a licensing survey of Japanese firms
AbstractThis paper provides an empirical analysis of the technology market for patents in Japan, by using a novel firm-level dataset that combines a Japanese Patent Office survey titled Survey of Intellectual Property Activities, the Institute of Intellectual Property patent database, and the Licensing Activity Survey conducted by the University of Tokyo. In this paper, we use a two-step model to estimate a firm's licensing propensities; the first step estimates the determinants of potential licensors (willingness to license) and the second step identifies the factors of the actual licensing out of technology (licensing propensity). We found that a significant number of patents held by firms are not licensed out, although the owners are willing to do so. Our econometric analysis reveals that a major factor behind this technology market imperfection is the potential licensors’ difficulty in finding licensing partners.
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Bibliographic InfoArticle provided by Elsevier in its journal Research Policy.
Volume (Year): 41 (2012)
Issue (Month): 1 ()
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Web page: http://www.elsevier.com/locate/respol
Technology market; Licensing; Patent; Japan;
Find related papers by JEL classification:
- D45 - Microeconomics - - Market Structure and Pricing - - - Rationing; Licensing
- L22 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Organization and Market Structure
- O32 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Management of Technological Innovation and R&D
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