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Market of Ideas Research Notes (view source)
Revision as of 17:13, 28 September 2016
, 17:13, 28 September 2016no edit summary
*[http://www.hbs.edu/businesshistory/Documents/BHR870102.pdf Patent Alchemy: The Market for Technology in US History] by Naomi R. Lamoreaux, Kenneth L. Sokoloff, and Dhanoos Sutthiphisal
::*"there is actually nothing new about the practice of extracting economic value from patents by selling off or licensing the rights. During most periods of US history, it was as common for inventors to profit from their creativity in this way as by starting their own firms or working as salaried employees in R&D labs. Indeed, the ability to find buyers quickly for patents was an important driver of inventive activity during the late nineteenth and early twentieth centuries, when patenting rates in the United States were at historic highs." (Page 4)
::*"Inventors looking for buyers or licensees for their intellectual property or for venture capital for new enterprises face many of the same information problems in the early twenty-first century as their predecessors did a hundred years before, and they are solving them in much the same way—by forming bonds with well-connected professionals whose judgment they trust" (Page 35)
::*"As in the past, the growth of the market for technology has given rise to new problems of asymmetric information that opportunists can exploit to their advantage. The most notorious examples today are intermediaries who buy patents with the aim of extracting licensing fees from infringers, sometimes from large businesses with deep pockets (like the railroads in the late nineteenth century), sometimes from small businesses with limited resources (like the farmers of the same period)." (Page 36)
*'''Carlos J. Serrano, “The Dynamics of the Transfer and Renewal of Patents,” RAND Journal of Economics 41 (Winter 2010): 686–708''' [http://onlinelibrary.wiley.com/doi/10.1111/j.1756-2171.2010.00117.x/full Link]
::*12.4 percent of patents obtained in last two decades of 20th century were sold
*Report [https://www.ibm.com/ibm/files/N225208E26630J62/inventors_forum.pdf IBM Inventor's Forum Global Innovation Outlook Report]
::*"U.S. firms annually waste $1 trillion in underused IP assets by failing to extract full value through partnerships, according to Navi Radjou of Forrester Research."::*"Many of the world’s patent systems were developed decades or even centuries ago and have not kept pace with the rapid technological advances of the invention community. The reasons for this gap include legal requirements, policies and patent office resources. Patent systems must take advantage of the same tools helping to accelerate the rate and pace of innovation."
*Another IBM Report [https://www.ibm.com/ibm/files/S376023B46442F89/building_a_new_ip_marketplace-report.pdf Building A New IP Marketplace report]
::*“In 200 2005, the number of patent applications we received continued to grow at a rapid pace. Our office now receives many patent applications on CD-ROM, containing millions of pages of data. In short, the volume and complexity of patent applications continues to outpace current capacity to examine them. The result is a pending— and growing— application backlog of historic proportions.”
:::Jon W. Dudas Under Secretary of Commerce for Intellectual Property and Director of the United States Patent and Trademark Office USPTO 2005 Annual Report
::*“Obviously, one thing a market does is to determine prices. With patents or patent licenses, this is reasonably tricky. Patent rights are options on an uncertain future. We ought to seek some guidance from how options markets operate.”
