| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP11091 |
| DP11091 The Bright Side of Patents | |
| Alexander Ljungqvist; Joan Farre-Mensa; Deepak Hegde | |
| 发表日期 | 2016-02-07 |
| 出版年 | 2016 |
| 语种 | 英语 |
| 摘要 | Motivated by concerns that the patent system is hindering innovation, particularly for small inventors, this study investigates the bright side of patents. We examine whether patents help startups grow and succeed using detailed micro data on all patent applications filed by startups at the U.S. Patent and Trademark Office (USPTO) since 2001 and approved or rejected before 2014. We leverage the fact that patent applications are assigned quasi-randomly to USPTO examiners and instrument for the probability that an application is approved with individual examiners? historical approval rates. We find that patent approvals help startups create jobs, grow their sales, innovate, and reward their investors. Exogenous delays in the patent examination process significantly reduce firm growth, job creation, and innovation, even when a firm?s patent application is eventually approved. Our results suggest that patents act as a catalyst that sets startups on a growth path by facilitating their access to capital. Proposals for patent reform should consider these benefits of patents alongside their potential costs. |
| 主题 | Financial Economics ; Industrial Organization |
| 关键词 | entrepreneurship Innovation Patents R&d Venture capital |
| URL | https://cepr.org/publications/dp11091 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/539920 |
| 推荐引用方式 GB/T 7714 | Alexander Ljungqvist,Joan Farre-Mensa,Deepak Hegde. DP11091 The Bright Side of Patents. 2016. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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