The Role of Patents for Bridging the Science to Market Gap / Thomas Hellmann.

Format:

Book

Author/Creator:

Hellmann, Thomas.

Contributor:

National Bureau of Economic Research.

Series:

Working Paper Series (National Bureau of Economic Research) no. w11460.

NBER working paper series no. w11460

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 2005.

Summary:

This paper examines an ex-post rationale for the patenting of scientific discoveries. In this model,

scientist do not know which firms can make use of their discoveries, and firms do not know which

scientific discoveries might be useful to them. To bridge this gap, either or both sides need to engage

in costly search activities. Patents determine the appropriability of scientific discoveries, which

affects the scientists. and firms. willingness to engage in search. Patents decrease dissemination

when the search intensity of firms is sufficiently elastic, relative to that of scientists. The model also

examines the role of universities. Patents facilitate the delegation of search activities to the

universities' technology transfer offices, which enables efficient specialization. Rather than

distracting scientists from doing research, patenting may be a complement to doing research.

Notes:

Print version record

July 2005.