Patent Publication and the Market for Ideas

  title={Patent Publication and the Market for Ideas},
  author={Deepak Hegde and Hong Luo},
In this paper, we study the effect of invention disclosure through patent publication on the market for ideas. We do so by analyzing the effects of the American Inventor’s Protection Act of 1999 (AIPA) — which required US patent applications to be published 18 months after their filing date rather than at patent grant — on the timing of licensing deals in the biomedical industry. We find that post-AIPA US patent applications are significantly more likely to be licensed before patent grant and… CONTINUE READING