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Patent trolls : evidence from targeted firms

Author: Lauren Cohen; Umit G Gurun; Scott Duke Kominers; National Bureau of Economic Research,
Publisher: Cambridge, Mass. : National Bureau of Economic Research, 2014.
Series: Working paper series (National Bureau of Economic Research), no. 20322.
Edition/Format:   eBook : Document : EnglishView all editions and formats
Database:WorldCat
Summary:
We provide theoretical and empirical evidence on the evolution and impact of non-practicing entities (NPEs) in the intellectual property space. Heterogeneity in innovation, given a cost of commercialization, results in NPEs that choose to act as "patent trolls" that chase operating firms' innovations even if those innovations are not clearly infringing on the NPEs' patents. We support these predictions using a  Read more...
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Details

Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Lauren Cohen; Umit G Gurun; Scott Duke Kominers; National Bureau of Economic Research,
OCLC Number: 887744995
Notes: "July 2014"
Description: 1 online resource (31 numbered pages, 13 unnumbered pages) : map.
Series Title: Working paper series (National Bureau of Economic Research), no. 20322.
Responsibility: Lauren Cohen, Umit Gurun, Scott Duke Kominers.

Abstract:

We provide theoretical and empirical evidence on the evolution and impact of non-practicing entities (NPEs) in the intellectual property space. Heterogeneity in innovation, given a cost of commercialization, results in NPEs that choose to act as "patent trolls" that chase operating firms' innovations even if those innovations are not clearly infringing on the NPEs' patents. We support these predictions using a novel, large dataset of patents targeted by NPEs. We show that NPEs on average target firms that are flush with cash (or have just had large positive cash shocks). Furthermore, NPEs target firm profits arising from exogenous cash shocks unrelated to the allegedly infringing patents. We next show that NPEs target firms irrespective of the closeness of those firms' patents to the NPEs', and that NPEs typically target firms that are busy with other (non-IP related) lawsuits or are likely to settle. Lastly, we show that NPE litigation has a negative real impact on the future innovative activity of targeted firms.

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