IP Transactions: On the Theory & Practice of Commercializing Innovation

33 Pages Posted: 12 Oct 2005  

F. Scott Kieff

George Washington University - Law School; Stanford University - Hoover Institution on War, Revolution and Peace

Date Written: October 2005

Abstract

All too often within organizations and communities, innovations are not generated or put to use as rapidly or as broadly as they could be. Chief targets for blame include the problems of transaction costs, agency costs, lack of coordination, and improper incentives. Borrowing from the rich literature in the field generally known as new institutional economics, which has studied these types of problems more broadly, this Article elucidates how some practical tools might be expected to mitigate such problems. Particular arrangements of formal law and informal practice may help reach across the "valley of death" between early stage technologies and their downstream commercial deployment. Depending on the circumstances of a given situation, different practices and different aspects of the legal regimes of intellectual property, antitrust, business associations, bankruptcy, property, and contract may prove most helpful. Elucidating at least as many questions for further empirical research as answers in the form of practical tips for structuring transactions, this Article focuses on the particular mechanisms by which the problems and proposed solutions might actually operate.

Keywords: Intellectual Property, innovation, transactions

JEL Classification: B25, D23, D29, D61, K11, K20, K29, K39, O31, O33

Suggested Citation

Kieff, F. Scott, IP Transactions: On the Theory & Practice of Commercializing Innovation (October 2005). ; Stanford Law and Economics Olin Working Paper No. 311. Available at SSRN: https://ssrn.com/abstract=821327 or http://dx.doi.org/10.2139/ssrn.821327

F. Scott Kieff (Contact Author)

George Washington University - Law School ( email )

2000 H Street, N.W.
Washington, DC 20052
United States
202-994-4644 (Phone)

Stanford University - Hoover Institution on War, Revolution and Peace ( email )

434 Galvez Mall
Stanford, CA 94305-6010
United States
650-723-3678 (Phone)

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