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The design of licensing contracts: Chemicals, pharmaceuticals, and electrical engineering in imperial Germany

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  • Carsten Burhop
  • Thorsten Lübbers

Abstract

The article investigates a sample of 180 technology licensing contracts closed by German chemical, pharmaceutical, and electrical engineering companies between 1880 and 1913. The empirical results suggest that strategic behaviour is relevant for the design of licensing contracts, whereas inventor moral hazard and risk aversion of licensor or licensee seem to be less important. Moreover, the results suggest that uncertainty regarding the profitability of licensed technology influenced the design of licensing contracts. More specifically, profit-sharing agreements or producer milestones were often included in licensing contracts to solve this kind of problem.

Suggested Citation

  • Carsten Burhop & Thorsten Lübbers, 2012. "The design of licensing contracts: Chemicals, pharmaceuticals, and electrical engineering in imperial Germany," Business History, Taylor & Francis Journals, vol. 54(4), pages 574-593, January.
    • Handle: RePEc:taf:bushst:v:54:y:2012:i:4:p:574-593
    DOI: 10.1080/00076791.2012.683414
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    References listed on IDEAS

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    1. Naomi R. Lamoreaux & Daniel M. G. Raff & Peter Temin, 1999. "Learning by Doing in Markets, Firms, and Countries," NBER Books, National Bureau of Economic Research, Inc, number lamo99-1, July.
    2. Naomi R. Lamoreaux & Daniel Raff & Peter Temin, 1999. "Introduction to "Learning by Doing in Markets, Firms, and Countries"," NBER Chapters, in: Learning by Doing in Markets, Firms, and Countries, pages 1-18, National Bureau of Economic Research, Inc.
    3. Kocka, Jürgen, 1969. "Unternehmensverwaltung und Angestelltenschaft am Beispiel Siemens 1847-1914: zum Verhältnis von Kapitalismus und Bürokratie in der deutschen Industrialisierung," EconStor Books, ZBW - Leibniz Information Centre for Economics, volume 11, number 112643.
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    Cited by:

    1. Stefano Colombo & Luigi Filippini, 2016. "Revenue royalties," Journal of Economics, Springer, vol. 118(1), pages 47-76, May.

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