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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)
  • Dante Di, Gregorio Robert, H Smith, Scott Shane, Robert H Smith, Rebecca Henderson +6 others
  • 2000
1 The authors contributed equally to the writing of this paper and are listed alphabetically. An earlier version of this paper was presented at the micro-economics workshop at Purdue University. We would like to thank ABSTRACT The results of this study provide insight into why some universities generate more new companies to exploit their intellectual(More)
participants at the NBER, Purdue, LSU, and the University of Nottingham for their insightful comments and suggestions. We are also deeply indebted to the many administrators, scientists, managers, and entrepreneurs who agreed to be interviewed. Martha Cobb and Melissa Zidle provided capable research assistance. Financial support from the Alfred P. Sloan(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)
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)
  • Ajay Agrawal, Avi Goldfarb, Pierre Azoulay, Erik Brynjolfsson, Iain Cockburn, Wes Cohen +13 others
  • 2006
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)
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 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)