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Intellectual Property Clearinghouses: The Effects of Reduced Transaction Costs in Licensing

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  • Aoki, Reiko
  • Schiff, Aaron

Abstract

We focus on downstream uses that combine multiple intellectual property rights and examine the effects of introducing an intellectual property clearinghouse that reduces transaction costs associated with licensing. We show that this causes equilibrium royalties to rise in some cases and may harm licensors because clearinghouse by itself does not eliminate the 'tragedy of the anticommons'. Downstream welfare effects may also be positive or negative and we characterise the effects on downstream manufacturers and final consumers. We also show that total welfare is most likely to increase following a transaction cost reduction when the number of intellectual property rights per downstream use is small, or if rights are relatively substitutable in downstream use, but it is also possible for welfare to decrease.

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File URL: http://hermes-ir.lib.hit-u.ac.jp/rs/bitstream/10086/15705/1/pie_dp359.pdf
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Bibliographic Info

Paper provided by Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University in its series PIE/CIS Discussion Paper with number 359.

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Length: 24 p.
Date of creation: Mar 2008
Date of revision:
Handle: RePEc:hit:piecis:359

Note: "30 June 2007" -- p. 1
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Related research

Keywords: Intellectual property; licensing; tragedy of the anticommons; clearinghouses;

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References

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  1. Hollander, Abraham, 1984. "Market structure and performance in intellectual property : The case of copyright collectives," International Journal of Industrial Organization, Elsevier, vol. 2(3), pages 199-216, September.
  2. Athreye, Suma & Cantwell, John, 2007. "Creating competition?: Globalisation and the emergence of new technology producers," Research Policy, Elsevier, vol. 36(2), pages 209-226, March.
  3. Shapiro, Carl, 2000. "Navigating the Patent Thicket: Cross Licenses, Patent Pools, and Standard-Setting," Competition Policy Center, Working Paper Series qt4hs5s9wk, Competition Policy Center, Institute for Business and Economic Research, UC Berkeley.
  4. Josh Lerner & Jean Tirole, 2002. "Efficient Patent Pools," NBER Working Papers 9175, National Bureau of Economic Research, Inc.
  5. Arora, Ashish & Fosfuri, Andrea, 2003. "Licensing the market for technology," Journal of Economic Behavior & Organization, Elsevier, vol. 52(2), pages 277-295, October.
  6. Kleit, Andrew N, 2000. "ASCAP Versus BMI (Versus CBS): Modeling Competition between and Bundling by Performance Rights Organizations," Economic Inquiry, Western Economic Association International, vol. 38(4), pages 579-90, October.
  7. Buchanan, James M & Yoon, Yong J, 2000. "Symmetric Tragedies: Commons and Anticommons," Journal of Law and Economics, University of Chicago Press, vol. 43(1), pages 1-13, April.
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Cited by:
  1. Ghafele, Roya & Gibert, Benjamin, 2011. "The Transaction Cost Benefits of Electronic Patent Licensing Platforms: A Discussion at the Example of the PatentBooks Model," MPRA Paper 36010, University Library of Munich, Germany, revised 10 Jan 2012.

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