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.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoPaper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 17980.
Date of creation: Apr 2012
Date of revision:
Contact details of provider:
Postal: National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.
Web page: http://www.nber.org
More information through EDIRC
Other versions of this item:
- Färnstrand Damsgaard, Erika & Thursby, Marie, 2012. "University Entrepreneurship and Professor Privilege," Working Paper Series 909, Research Institute of Industrial Economics, revised 12 Apr 2012.
- O3 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights
- O33 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
- O34 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Intellectual Property and Intellectual Capital
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-04-17 (All new papers)
- NEP-EDU-2012-04-17 (Education)
- NEP-ENT-2012-04-17 (Entrepreneurship)
- NEP-IPR-2012-04-17 (Intellectual Property Rights)
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.:
- Bart Verspagen, 2006.
"University Research, Intellectual Property Rights And European Innovation Systems,"
Journal of Economic Surveys,
Wiley Blackwell, vol. 20(4), pages 607-632, 09.
- Bart Verspagen, 2006. "University research, intellectual property rights and European innovation systems," Eindhoven Center for Innovation Studies (ECIS) working paper series 06-05, Eindhoven Center for Innovation Studies (ECIS), revised Mar 2006.
- Bart Verspagen, 2006. "University research, intellectual property rights and European innovation systems," Working Papers 06-05, Eindhoven Center for Innovation Studies, revised Mar 2006.
- Jerry Thursby & Marie Thursby, 2010.
"University Licensing: Harnessing or Tarnishing Faculty Research?,"
in: Innovation Policy and the Economy, Volume 10, pages 159-189
National Bureau of Economic Research, Inc.
- Jerry Thursby & Marie Thursby, 2010. "University Licensing: Harnessing or Tarnishing Faculty Research?," Innovation Policy and the Economy, University of Chicago Press, vol. 10(1), pages 159 - 189.
- Dechenaux, Emmanuel & Thursby, Jerry & Thursby, Marie, 2011.
"Inventor moral hazard in university licensing: The role of contracts,"
Elsevier, vol. 40(1), pages 94-104, February.
- Emmanuel Dechenaux & Jerry Thursby & Marie C. Thursby, 2008. "Inventor Moral Hazard in University Licensing: The Role of Contracts," NBER Working Papers 14226, National Bureau of Economic Research, Inc.
- 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.
- InÉs Macho-Stadler & David Pérez-Castrillo & Reinhilde Veugelers, 2008.
"Designing Contracts for University Spin-offs,"
Journal of Economics & Management Strategy,
Wiley Blackwell, vol. 17(1), pages 185-218, 03.
- Goldfarb, Brent & Henrekson, Magnus, 2003. "Bottom-up versus top-down policies towards the commercialization of university intellectual property," Research Policy, Elsevier, vol. 32(4), pages 639-658, April.
- 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.
- Robert Lowe, 2006. "Who Develops a University Invention? The Impact of Tacit Knowledge and Licensing Policies," The Journal of Technology Transfer, Springer, vol. 31(4), pages 415-429, 07.
- 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.
- Pontus Braunerhjelm & Roger Svensson, 2010.
"The inventor’s role: was Schumpeter right?,"
Journal of Evolutionary Economics,
Springer, vol. 20(3), pages 413-444, June.
- 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.
- Braunerhjelm, Pontus & Svensson, Roger, 2007. "The Inventor’s Role: Was Schumpeter Right?," Working Paper Series 690, Research Institute of Industrial Economics.
- Robert A. Lowe & Arvids A. Ziedonis, 2006. "Overoptimism and the Performance of Entrepreneurial Firms," Management Science, INFORMS, vol. 52(2), pages 173-186, February.
- Marie Thursby & Richard Jensen, 2001. "Proofs and Prototypes for Sale: The Licensing of University Inventions," American Economic Review, American Economic Association, vol. 91(1), pages 240-259, March.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ().
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.