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Trademarks and Venture Capital FundingJoern BlockUniversity of Trier - Faculty of Management; Erasmus University Rotterdam - Department of Applied Economics Geertjan De VriesErasmus University Rotterdam (EUR) - Erasmus School of Economics (ESE); Tinbergen Institute Philipp G. SandnerTUM School of Management, Technische Universität München Jan H. SchumannTechnische Universität München (TUM) - TUM School of Management May 22, 2012 Abstract: This paper investigates the role of trademarks in start-up valuation by venture capitalists. The results suggest that the presence and number of trademarks in a start-up are positively related to its valuation. We also find that trademark breadth has a positive effect on valuation and that the effect of trademarks on valuation decreases over the venture capital cycle.
Number of Pages in PDF File: 35 Keywords: venture capital, trademarks, entrepreneurial marketing, patents, intellectual property JEL Classification: O34, G24, L26 working papers seriesDate posted: May 22, 2012Suggested CitationContact Information
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