The Litigation of Financial Innovations
This paper examines the litigation of patents relating to financial products and services. I show that these grants are being litigated at a rate 27-39 times greater than that of patents as a whole. The patents being litigated are disproportionately those issued to individuals and to smaller, private entities and those with features that may proxy for higher quality. Larger entities are disproportionately targeted in litigation. I discuss how the findings are in large part consistent with the theoretical literature on the economics of litigation.
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- Josh Lerner, 2004.
"Where Does State Street Lead? First Look at Finance Patents, 1971-2000,"
Levine's Working Paper Archive
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- Lerner, Josh, 2006. "The new new financial thing: The origins of financial innovations," Journal of Financial Economics, Elsevier, vol. 79(2), pages 223-255, February.
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- Lanjouw, Jean O & Lerner, Josh, 2001. "Tilting the Table? The Use of Preliminary Injunctions," Journal of Law and Economics, University of Chicago Press, vol. 44(2), pages 573-603, October.
- George L. Priest & Benjamin Klein, 1984. "The Selection of Disputes for Litigation," The Journal of Legal Studies, University of Chicago Press, vol. 13(1), pages 1-56, January.
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