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Incentives in University Technology Transfers

  • Inés Macho-Stadler
  • David Pérez-Castrillo

There are two main ways in which the knowledge created in universities has been transferred to firms: licensing agreements and the creation of spin-offs. In this paper, we describe the main steps in the transfer of university innovations, the main incentive issues that appear in this process, and the contractual solutions proposed to address them.

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Paper provided by Barcelona Graduate School of Economics in its series Working Papers with number 398.

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Date of creation: Oct 2009
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Handle: RePEc:bge:wpaper:398
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  1. Macho-Stadler, Ines & Martinez-Giralt, Xavier & David Perez-Castrillo, J., 1996. "The role of information in licensing contract design," Research Policy, Elsevier, vol. 25(1), pages 43-57, January.
  2. Hellmann, Thomas, 2006. "IPOs, acquisitions, and the use of convertible securities in venture capital," Journal of Financial Economics, Elsevier, vol. 81(3), pages 649-679, September.
  3. Catherine Casamatta, 2003. "Financing and Advising: Optimal Financial Contracts with Venture Capitalists," Journal of Finance, American Finance Association, vol. 58(5), pages 2059-2086, October.
  4. Marie Thursby & Jerry Thursby & Emmanuel Dechenaux, 2005. "Shirking, Sharing Risk, and Shelving: The Role of University License Contracts," NBER Working Papers 11128, National Bureau of Economic Research, Inc.
  5. Klaus Schmidt, 1999. "Convertible Securities and Venture Capital Finance," CESifo Working Paper Series 217, CESifo Group Munich.
  6. Salim Chahine & Igor Filatotchev & Mike Wright, 2007. "Venture Capitalists, Business Angels, and Performance of Entrepreneurial IPOs in the UK and France," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 34(3-4), pages 505-528.
  7. 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.
  8. Martin Meyer, 2006. "Academic Inventiveness and Entrepreneurship: On the Importance of Start-up Companies in Commercializing Academic Patents," The Journal of Technology Transfer, Springer, vol. 31(4), pages 501-510, 07.
  9. Nancy T. Gallini & Brian D. Wright, 1990. "Technology Transfer under Asymmetric Information," RAND Journal of Economics, The RAND Corporation, vol. 21(1), pages 147-160, Spring.
  10. Gompers, Paul A., 1996. "Grandstanding in the venture capital industry," Journal of Financial Economics, Elsevier, vol. 42(1), pages 133-156, September.
  11. Repullo, R. & Suarez, J., 1998. "Venture Capital Finance: a Security Design Approach," Papers 9804, Centro de Estudios Monetarios Y Financieros-.
  12. Neher, Darwin V, 1999. "Staged Financing: An Agency Perspective," Review of Economic Studies, Wiley Blackwell, vol. 66(2), pages 255-74, April.
  13. Macho-Stadler, Ines & Perez-Castrillo, David & Veugelers, Reinhilde, 2007. "Licensing of university inventions: The role of a technology transfer office," International Journal of Industrial Organization, Elsevier, vol. 25(3), pages 483-510, June.
  14. Bousquet, Alain & Cremer, Helmuth & Ivaldi, Marc & Wolkowicz, Michel, 1998. "Risk sharing in licensing," International Journal of Industrial Organization, Elsevier, vol. 16(5), pages 535-554, September.
  15. 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.
  16. Donald Siegel & Mike Wright & Wendy Chapple & Andy Lockett, 2008. "Assessing The Relative Performance Of University Technology Transfer In The Us And Uk: A Stochastic Distance Function Approach," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 17(7-8), pages 717-729.
  17. Aghion, Philippe & Bolton, Patrick, 1992. "An Incomplete Contracts Approach to Financial Contracting," Review of Economic Studies, Wiley Blackwell, vol. 59(3), pages 473-94, July.
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