University Entrepreneurship and Professor Privilege
AbstractThis paper analyzes how institutional differences affect university entrepreneurship. We focus on ownership of faculty inventions, and compare two institutional regimes; the US and Sweden. In the US, the Bayh-Dole Act gives universities the right to own inventions from publicly funded research,whereas in Sweden, the professor privilege gives the university faculty this right. We develop a theoretical model and examine the effects of institutional differences on modes of commercialization; entrepreneurship or licenses to established firms, as well as on probabilities of successful commercialization. We find that the US system is less conducive to entrepreneurship than the Swedish system if established firms have some advantage over faculty startups, and that on average the probability of successful commercialization is somewhat higher in the US. We also use the model to perform four policy experiments as suggested by recent policy debates in both countries.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Research Institute of Industrial Economics in its series Working Paper Series with number 909.
Length: 35 pages
Date of creation: 25 Mar 2012
Date of revision: 12 Apr 2012
Contact details of provider:
Postal: Research Institute of Industrial Economics, Box 55665, SE-102 15 Stockholm, Sweden
Phone: +46 8 665 4500
Fax: +46 8 665 4599
Web page: http://www.ifn.se/
More information through EDIRC
Entrepreneurship; Professor privilege; Commercialization; Startup;
Other versions of this item:
- Erika Farnstrand Damsgaard & Marie C. Thursby, 2012. "University Entrepreneurship and Professor Privilege," NBER Working Papers 17980, National Bureau of Economic Research, Inc.
- L24 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Contracting Out; Joint Ventures
- L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
- O31 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
- O38 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Government Policy
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Braunerhjelm, Pontus & Svensson, Roger, 2007.
"The Inventor’s Role: Was Schumpeter Right?,"
Working Paper Series
690, Research Institute of Industrial Economics.
- Braunerhjelm, Pontus & Svensson, Roger, 2007. "The inventor's role: was Schumpeter right?," Working Paper Series in Economics and Institutions of Innovation 78, Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies.
- Goldfarb, Brent & Henrekson, Magnus, 2001. "Bottom-Up vs. Top-Down Policies towards the Commercialization of University Intellectual Property," Working Paper Series in Economics and Finance 463, Stockholm School of Economics, revised 26 May 2002.
- Macho-Stadler Inés & Pérez-Castrillo David & Veugelers Reinhilde, 2007.
"Designing Contracts for University Spin-offs,"
201071, Fundacion BBVA / BBVA Foundation.
- Frank T. Rothaermel & Shanti D. Agung & Lin Jiang, 2007. "University entrepreneurship: a taxonomy of the literature," Industrial and Corporate Change, Oxford University Press, vol. 16(4), pages 691-791, August.
- Geuna, Aldo & Nesta, Lionel J.J., 2006. "University patenting and its effects on academic research: The emerging European evidence," Research Policy, Elsevier, vol. 35(6), pages 790-807, July.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Elisabeth Gustafsson).
If references are entirely missing, you can add them using this form.