U.S. Universitiesï¾’ Net Returns from Patenting and Licensing: A Quantile Regression Analysis
AbstractIn line with the rights and incentives provided by the Bayh-Dole Act of 1980, U.S. universities have increased their involvement in patenting and licensing activities through their own technology transfer offices. Only a few U.S. universities are obtaining large returns, however, whereas others are continuing with these activities despite negligible or negative returns. We assess the U.S. universitiesï¾’ potential to generate returns from licensing activities by modeling and estimating quantiles of the distribution of net licensing returns conditional on some of their structural characteristics. We find limited prospects for public universities without a medical school everywhere in their distribution. Other groups of universities (private, and public with a medical school) can expect significant but still fairly modest returns only beyond the 0.9th quantile. These findings call into question the appropriateness of the revenue-generating motive for the aggressive rate of patenting and licensing by U.S. universities.
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Bibliographic InfoPaper provided by Iowa State University, Department of Economics in its series Staff General Research Papers with number 12672.
Date of creation: 01 Sep 2006
Date of revision:
Publication status: Published in Economics of Innovation and New Technology 2009, vol. 18 no. 2, pp. 123-137
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Postal: Iowa State University, Dept. of Economics, 260 Heady Hall, Ames, IA 50011-1070
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Web page: http://www.econ.iastate.edu
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This paper has been announced in the following NEP Reports:
- NEP-ALL-2006-09-16 (All new papers)
- NEP-EDU-2006-09-16 (Education)
- NEP-INO-2006-09-16 (Innovation)
- NEP-SOG-2006-09-16 (Sociology of Economics)
- NEP-TID-2006-09-16 (Technology & Industrial Dynamics)
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