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The design of licensing contracts: Chemicals, Pharmaceuticals, and Electrical Engineering in Imperial Germany

  • Carsten Burhop

    (University of Cologne)

  • Thorsten Luebbers

    (MPI for Collective Goods Bonn)

Registered author(s):

    We investigate a sample of 180 technology licensing contracts closed by German chemical, pharmaceutical, and electrical engineering companies between 1880 and 1913. Our empirical results suggest that strategic behaviour seems to be relevant for the design of licensing contracts, whereas inventor moral hazard and risk aversion of licensor or licensee seem to be irrelevant. Moreover, our results suggest that uncertainty regarding the profitability of licensed technology influenced the design of licensing contracts. More specifically, profit sharing agreements or producer milestones were typically included into licensing contracts.

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    Paper provided by University of Cologne, Department of Economic and Business History in its series Cologne Economic History papers with number 11.

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    Length: 35 pages
    Date of creation: Jun 2011
    Date of revision: Jun 2011
    Publication status: Published in Cologne Economic History Paper, 2011
    Handle: RePEc:wso:wpaper:11
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