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University–Industry Linkages in the Support of Biotechnology Discoveries

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  • Richard A. Jensen

    (Department of Economics, University of Notre Dame, Notre Dame, Indiana 46556)

Abstract

This review summarizes the theoretical and empirical literature on the importance of linkages between universities and industries in the development of commercial applications of biotechnology. These linkages range from formal agreements, such as patent licenses and research alliances, to informal collaborations, such as joint research, copublication, and consulting. Because biotechnology involves a new research method, the tacit knowledge embedded in it became critical to its commercialization. Specifically, it requires the direct involvement of star scientists who have this tacit knowledge and are well remunerated for it. This process is facilitated by the passage of the Bayh–Dole Act, which allows universities to retain ownership of crucial patents and provides incentives to the star scientists to cooperate in development and commercialization. Over time, a complex web of collaborations and alliances has evolved in therapeutic, diagnostic, and pharmaceutical biotechnology, whereas extensive consolidation has occurred in agricultural biotechnology.

Suggested Citation

  • Richard A. Jensen, 2016. "University–Industry Linkages in the Support of Biotechnology Discoveries," Annual Review of Resource Economics, Annual Reviews, vol. 8(1), pages 377-396, October.
    • Handle: RePEc:anr:reseco:v:8:y:2016:p:377-396
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    File URL: http://www.annualreviews.org/doi/10.1146/annurev-resource-100815-095400
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    Cited by:

    1. Dean Showalter & Richard Jensen, 2019. "University Startup Intensity And Faculty Quality," Economic Inquiry, Western Economic Association International, vol. 57(2), pages 855-875, April.

    More about this item

    Keywords

    invention; patent licensing; star scientists;
    All these keywords.

    JEL classification:

    • L65 - Industrial Organization - - Industry Studies: Manufacturing - - - Chemicals; Rubber; Drugs; Biotechnology; Plastics
    • O34 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Intellectual Property and Intellectual Capital
    • Q16 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - R&D; Agricultural Technology; Biofuels; Agricultural Extension Services

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