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This paper describes results of our survey of licensing at 62 research universities. We consider ownership, income splits, stage of development, marketing, license policies and characteristics, goals of licensing and the role of the inventor in licensing. Based on these results we analyze the relationship between licensing outcomes and both the objectives(More)
H istorically, commercial use of university research has been viewed in terms of spillovers. Recently, there has been a dramatic increase in technology transfer through licensing as universities attempt to appropriate the returns from faculty research. This change has prompted concerns regarding the source of this growth—specifically, whether it suggests a(More)
for their insightful comments and suggestions. We are also deeply indebted to the many administrators, scientists, managers, and entrepreneurs who agreed to be interviewed. ABSTRACT We present quantitative and qualitative evidence on the productivity of university technology transfer offices (TTOs). Our empirical results suggest that TTO activity is(More)
We examine the performance of 160 pharmaceutical acquisitions from 1994-2001 and find evidence that on average acquirers realize significant positive returns. These returns are positively correlated with prior acquirer access to information about the research and development activities at target firms and a superior negotiating position. A unique(More)
Inventions: \The best we can do with the s**t we get to work with" Abstract We examine the interplay of the three major university actors in technology transfer from universities to industry: the faculty, the technology transfer o±ce (TTO), and the central administration. We model the faculty as an agent of the administration, and the TTO as an agent of(More)
We report evidence indicating that Bitnet adoption facilitated increased research collaboration between US universities. However, not all institutions benefited equally. Using panel data from seven top engineering journals, Bitnet connection records, and a variety of institution ranking data, we find that medium-ranked universities were the primary(More)
We examine the interplay of the three major university actors in technology transfer from universities to industry: the faculty, the technology transfer office (TTO), and the central administration. We model the faculty as an agent of the administration, and the TTO as an agent of both the faculty and the administration. Empirical tests of the theory are(More)
a r t i c l e i n f o In this paper, we develop a theoretical model of university licensing to explain why university license contracts often include payment types that differ from the fixed fees and royalties typically examined by economists. Our findings suggest that milestone payments and annual payments are common because moral hazard, risk sharing, and(More)
The MIT Faculty has made this article openly available. Please share how this access benefits you. Your story matters. in numerous conferences and seminars for comments and suggestions. Abstract This paper articulates a citation-based approach to science policy evaluation and employs that approach to investigate the impact of the United States' 2001 policy(More)