NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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Who Profits from Patents? Rent-Sharing at Innovative Firms

Patrick Kline, Neviana Petkova, Heidi Williams, Owen Zidar

NBER Working Paper No. 25245
Issued in November 2018, Revised in March 2019

---- Acknowledgments ----

We are very grateful to Joey Anderson, Ivan Badinski, Jeremy Brown, Alex Fahey, Sam Grondahl, Stephanie Kestelman, Tamri Matiashvili, Mahnum Shahzad, Karthik Srinivasan, and John Wieselthier for excellent research assistance, and to Daron Acemoglu, Lawrence Katz, Bentley MacLeod, John Van Reenen, four anonymous referees and seminar participants at Brown, Dartmouth, the LSE/IFS/STICERD seminar, Michigan, Michigan State, MIT, NBER Labor Studies, NBER Productivity, Northwestern, NYU, Princeton, Stanford, Stanford GSB, the Toulouse Network for Information Technology, UC-Berkeley, UC-Irvine, UIUC, Chicago Booth, and the Washington Center for Equitable Growth for helpful comments. The construction of some of the data analyzed in this publication was supported by the National Institute on Aging and the NIH Common Fund, Office of the NIH Director, through Grant U01-AG046708 to the National Bureau of Economic Research (NBER); the content is solely the responsibility of the authors and does not necessarily represent the official views of the NIH. This work/research was also funded by the Ewing Marion Kauffman Foundation. Financial support from the Sloan Foundation, NSF Grant Numbers 1151497 and 1752431, the Washington Center for Equitable Growth, the Kathryn and Grant Swick Faculty Research Fund, and the Booth School of Business are gratefully acknowledged. Opinions expressed in the paper do not necessarily represent the views and policies of the US Department of the Treasury or the National Bureau of Economic Research.

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