Instituto de Economía
Pontificia Universidad Católica de Chile
Correo 17, Santiago de Chile
NBER Working Papers and Publications
|April 2013||Patent Trading Flows of Small and Large Firms|
with Carlos J. Serrano: w18982
This article presents the results of an analysis of the patent trading flows of small and large firms and the determinants of these firm's patent sale and acquisition decisions. We also examine whether these transactions lead to an excessive concentration of patent rights. We show that small firms disproportionately sell and acquire more patents than large firms, and find no evidence that patent trading brings about a significant concentration of patent rights in the hands of large firms. We find that the match between new patented innovations and the original inventor's patent portfolio plays an important role in how successful firms are at generating value from their patents, and in the decision to sell a patent. And among the traded patents, we show that patent acquisitions respond to c...