NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

The Litigation of Financial Innovations

Josh Lerner

NBER Working Paper No. 14324
Issued in September 2008
NBER Program(s):   CF   PR

This paper examines the litigation of patents relating to financial products and services. I show that these grants are being litigated at a rate 27 to 39 times greater than that of patents as a whole. The patents being litigated are disproportionately those issued to individuals and to smaller, private entities, as well as those whose features may proxy for higher quality. Larger entities are disproportionately targeted in litigation. I discuss how the findings are in large part consistent with the theoretical literature on the economics of litigation.

download in pdf format
   (129 K)

email paper

This paper is available as PDF (129 K) or via email.

Acknowledgments

Machine-readable bibliographic record - MARC, RIS, BibTeX

Document Object Identifier (DOI): 10.3386/w14324

Published: Josh Lerner, 2010. "The Litigation of Financial Innovations," Journal of Law and Economics, University of Chicago Press, vol. 53(4), pages 807 - 831.

Users who downloaded this paper also downloaded these:
Lerner and Tufano w16780 The Consequences of Financial Innovation: A Counterfactual Research Agenda
Jermann and Quadrini w12308 Financial Innovations and Macroeconomic Volatility
Shavell w9697 Economic Analysis of Litigation and the Legal Process
Levich, Corrigan, Sanford, Jr., and Votja Financial Innovations in International Financial Markets
Lerner w7918 Where Does State Street Lead? A First Look at Finance Patents, 1971-2000
 
Publications
Activities
Meetings
Data
People
About

Support
National Bureau of Economic Research, 1050 Massachusetts Ave., Cambridge, MA 02138; 617-868-3900; email: info@nber.org

Contact Us