Markets for Scientific Research Outcomes

This study investigates the efficacy of two important instruments facilitating markets for scientific research outcomes, licenses and patents. The first strand pertains the licensing of scientific discoveries that are used as inputs to further research, or 'research tools.' The second strand scrutinizes how parties to technology licenses from a leading academic research institution manage transaction hazards through the use of contract terms and how these terms may differ among start-ups and established firms. The third strand examines how resolution of uncertainty through the patenting process facilitates the licensing of academic research, and the fourth strand develops a methodology to estimate the economic value of patented university research and disaggregate this value by 'upstream' and 'downstream' activities.

Keywords:Innovation, Scientific Research, Licensing, Patents

Disciplines:Innovation, research and development, technological change, intellectual property rights