The Governance of Contracts: Empirical Evidence on Technology Licensing Agreements
AbstractThis paper provides new evidence on the contractual governance of technology licensing agreements. Using an international sample of licensing contracts, we explore how contracts are designed to deal with specific contractual risks. In particular, we comparatively assess the influences of transaction attributes, institutional frameworks, and strategic considerations on the creation of licenses. Empirical results reveal that contractual clauses for governance are crafted independently. This leads to a discussion of complementarities between contractual components, which are frequently assumed in theory. Furthermore, our results are certainly amongst the first to provide econometric evidence on the pervasive influence of private institutions on the trading of technology.
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Bibliographic InfoPaper provided by Paris Dauphine University in its series Economics Papers from University Paris Dauphine with number 123456789/7117.
Date of creation: Jun 2007
Date of revision:
Publication status: Published in Journal of Institutional and Theoretical Economics JITE, 2007, Vol. 163, no. 2. pp. 205-235.Length: 30 pages
Technology Licensing Agreements; Patents; Market for Technologies; Transaction Costs; Governance Mechanism;
Find related papers by JEL classification:
- L14 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Transactional Relationships; Contracts and Reputation
- L22 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Organization and Market Structure
- O34 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Intellectual Property and Intellectual Capital
- D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights
- K12 - Law and Economics - - Basic Areas of Law - - - Contract Law
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