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Technology Entry in the Presence of Patent Thickets

Author

Listed:
  • Bronwyn H Hall
  • Georg von Graevenitz
  • Christian Helmers

Abstract

We analyze the effect of patent thickets on entry into technology areas by firms in the UK. We present a model that describes incentives to enter technology areas characterized by varying technological opportunity, complexity, and the potential for hold-up due to the presence of patent thickets. We show empirically that our measure of patent thickets is associated with a reduction of first time patenting in a given technology area controlling for the level of technological complexity and opportunity. Technological areas characterized by more technological complexity and opportunity, in contrast, see more entry. Our evidence indicates that patent thickets raise entry costs, which leads to less entry into technologies regardless of a firm’s size.
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Suggested Citation

  • Bronwyn H Hall & Georg von Graevenitz & Christian Helmers, 2021. "Technology Entry in the Presence of Patent Thickets," Oxford Economic Papers, Oxford University Press, vol. 73(2), pages 953-953.
    • Handle: RePEc:oup:oxecpp:v:73:y:2021:i:2:p:953-953.
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    File URL: http://hdl.handle.net/10.1093/oep/gpaa043
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    JEL classification:

    • K11 - Law and Economics - - Basic Areas of Law - - - Property Law
    • L20 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - General
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O34 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Intellectual Property and Intellectual Capital

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