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Playing in between: Ip brokers in markets for technology

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  • Mario BENASSI

    ()

  • Alberto DI MININ

    ()

Abstract

This paper focuses on IP (Intellectual Property) brokers. We define IP brokers as public or private companies bridging supply and demand of intellectual capital. We will here argue that IP brokers represent a key player in the market of patents, as their role in technology transfer can be that of active “market makers. ” This paper is organized in three sections. The first section discusses how economic and sociological theories explain brokerage and its existence. We discuss how, according to these different perspectives, brokers are adding value to IP transactions. The second section investigates what brokers really do. This analysis is based on a set of semi-structured interviews with the leading IP intermediaries in the U. S. Main results suggest brokers not only provide a support function for IP transaction, but also play an active role in the creation of market opportunities. In other words, brokers do not simply exploit quasi-rental structural position created by temporary market imperfections, but are crucial in making patent transactions possible. They do not only “stay in between” supply and demand of innovation, but “play in between” by acting as entrepreneurs of complex transactions. The third section discusses the implications of the study and elaborates on possible research hypotheses both at a micro and macro level. At the micro level, we suggest that brokers can be treated as highly skilled entrepreneurs with relevant relational capability. At the macro level, we predict that structural conditions of the industry and technological field where IP brokers are active will impact the success and relevance of intermediaries activities. The paper concludes with the role brokers play on the innovative capabilities at a national level and investigate specific conditions that might produce unexpected consequences.

Suggested Citation

  • Mario BENASSI & Alberto DI MININ, 2007. "Playing in between: Ip brokers in markets for technology," Departmental Working Papers 2007-15, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
  • Handle: RePEc:mil:wpdepa:2007-15
    as

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    File URL: http://wp.demm.unimi.it/files/wp/2007/DEMM-2007_015wp.pdf
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    References listed on IDEAS

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    1. Bronwyn H. Hall & Adam B. Jaffe & Manuel Trajtenberg, 2000. "Market Value and Patent Citations: A First Look," NBER Working Papers 7741, National Bureau of Economic Research, Inc.
    2. Mark J. Garmaise, 2003. "Informal Financial Networks: Theory and Evidence," Review of Financial Studies, Society for Financial Studies, vol. 16(4), pages 1007-1040.
    3. Jean Tirole, 1988. "The Theory of Industrial Organization," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262200716, January.
    4. David J. Teece, 2005. "Technological know-how, property rights, and enterprise boundaries: the contribution of Arora and Merges," Industrial and Corporate Change, Oxford University Press, vol. 14(6), pages 1237-1240, December.
    5. Cillo, Paola, 2005. "Fostering Market Knowledge Use in Innovation:: The Role of Internal Brokers," European Management Journal, Elsevier, vol. 23(4), pages 404-412, August.
    6. Kortum, Samuel & Lerner, Josh, 1999. "What is behind the recent surge in patenting?1," Research Policy, Elsevier, vol. 28(1), pages 1-22, January.
    7. Kira Fabrizio & Alberto Di Minin, 2004. "Commercializing the laboratory: the relationship between faculty patenting and publishing," Working Papers 200402, Scuola Superiore Sant'Anna of Pisa, Istituto di Management.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    patents; intellectual property; brokers; markets for technology;

    JEL classification:

    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General
    • L24 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Contracting Out; Joint Ventures
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • 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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