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Strategic Patenting and Software Innovation

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Author Info
Michael Noel
Mark Schankerman
Abstract

Strategic patenting is widely believed to raise the costs of innovating,especially in industries characterised by cumulative innovation. This paperstudies the effects of strategic patenting on R&D, patenting and marketvalue in the computer software industry. We focus on two key aspects:patent portfolio size which affects bargaining power in patent disputes, andthe fragmentation of patent rights (.patent thickets.) which increases thetransaction costs of enforcement. We develop a model that incorporates botheffects, together with R&D spillovers. Using panel data for the period 1980-99, we find evidence that both strategic patenting and R&D spilloversstrongly affect innovation and market value of software firms.

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File URL: http://sticerd.lse.ac.uk/dps/ei/EI43.pdf
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Paper provided by Suntory and Toyota International Centres for Economics and Related Disciplines, LSE in its series STICERD - Economics of Industry Papers with number 43.

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Date of creation: Jun 2006
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Handle: RePEc:cep:stieip:43

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Related research
Keywords: patents anti-commons patent thickets R&D spillovers marketvalue

Find related papers by JEL classification:
L43 - Industrial Organization - - Antitrust Issues and Policies - - - Legal Monopolies and Regulation or Deregulation
L86 - Industrial Organization - - Industry Studies: Services - - - Information and Internet Services; Computer Software
O31 - Economic Development, Technological Change, and Growth - - Technological Change - - - Innovation and Invention: Processes and Incentives
O32 - Economic Development, Technological Change, and Growth - - Technological Change - - - Management of Technological Innovation and R&D
O33 - Economic Development, Technological Change, and Growth - - Technological Change - - - Technological Change: Choices and Consequences; Diffusion Processes
O34 - Economic Development, Technological Change, and Growth - - Technological Change - - - Intellectual Property Rights
O38 - Economic Development, Technological Change, and Growth - - Technological Change - - - Government Policy

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  1. Sebastian von Engelhardt & Sushmita Swaminathan, 2008. "Open Source Software, Closed Source Software or Both : Impacts on Industry Growth and the Role of Intellectual Property Rights," Discussion Papers of DIW Berlin 799, DIW Berlin, German Institute for Economic Research. [Downloadable!]
  2. Alberto Galasso, 2007. "Broad Cross-License Agreements andPersuasive Patent Litigation: Theory andEvidence from the Semiconductor Industry," STICERD - Economics of Industry Papers 45, Suntory and Toyota International Centres for Economics and Related Disciplines, LSE. [Downloadable!]
  3. Rey, Patrick & Salant, David, 2008. "Abuse of Dominance and Licensing of Intellectual Property," MPRA Paper 9454, University Library of Munich, Germany. [Downloadable!]
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