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.
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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
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Postal: Research Institute of Industrial Economics, Box 55665, SE-102 15 Stockholm, Sweden
Phone: +46 8 665 4500
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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.:
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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.
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