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Partial Observability Estimates of Supply and Demand for Trademarks of Start-Ups

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  • Bernadette Power
  • Gavin C Reid

Abstract

This paper estimates simultaneously the supply and the demand determinants of the trademark adoption decision made by start-ups. We use a partial observability econometric model, as non-adoption is unobserved. Estimation is by maximum likelihood using the partial observability bivariate probit (POBP) model. This is run on a large (N > 13k) representative unbalanced longitudinal panel of surviving start-ups, derived from the Kauffman Foundation start-up dataset (2004-2011) for the USA. Our model is shown to provide a good explanation of supply and demand determinants of trademark adoption, in terms of signs of key variables, and statistical significance. For example, size, incorporation, and expenditure on R&D are important on the supply-side; and copyrights, licensing out, and being in a high knowledge information sector, are important on the demand-side. Policy implications are considered, focusing on marginal and elasticity effects.

Suggested Citation

  • Bernadette Power & Gavin C Reid, 2023. "Partial Observability Estimates of Supply and Demand for Trademarks of Start-Ups," Working Papers wp537, Centre for Business Research, University of Cambridge.
    • Handle: RePEc:cbr:cbrwps:wp537
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    More about this item

    Keywords

    Trademark adoption; business start-ups; intellectual property; supply and demand;
    All these keywords.

    JEL classification:

    • D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
    • D22 - Microeconomics - - Production and Organizations - - - Firm Behavior: Empirical Analysis
    • K11 - Law and Economics - - Basic Areas of Law - - - Property Law
    • L21 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Business Objectives of the Firm
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship

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