Patent Pools, Competition, and Innovation - Evidence from 20 U.S. Industries under the New Deal
67 Pages Posted: 2 Dec 2011 Last revised: 28 May 2014
There are 2 versions of this paper
Patent Pools, Competition, and Innovation - Evidence from 20 U.S. Industries under the New Deal
Do Patent Pools Encourage Innovation? Evidence from 20 U.S. Industries Under the New Deal
Date Written: May 26, 2014
Abstract
Patent pools have become a prominent mechanism to reduce litigation risks and facilitate the commercialization of new technologies. This paper takes advantage of a window of regulatory tolerance under the New Deal to investigate the effects of pools that would form in the absence of effective antitrust. Difference-in-differences regressions of patents and patent citations across 20 industries imply a 14 percent decline in patenting for each additional patent that is included in a pool. An analysis of the mechanism by which pools discourage innovation indicates that this decline is driven by technologies for which the creation of a pool weakened competition.
Keywords: Patent Pools, Innovation, Patents, Intellectual Property, Economic History
JEL Classification: K00, N00, N42, O31
Suggested Citation: Suggested Citation
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