Gaessler, Fabian
[VerfasserIn]
;
Harhoff, Dietmar
[Sonstige Person, Familie und Körperschaft];
Sorg, Stefan
[Sonstige Person, Familie und Körperschaft]
Erschienen in:Max Planck Institute for Innovation & Competition Research Paper ; No. 19-11, August 2019
Umfang:
1 Online-Ressource (68 p)
Sprache:
Englisch
DOI:
10.2139/ssrn.3444203
Identifikator:
Entstehung:
Anmerkungen:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments August 26, 2019 erstellt
Beschreibung:
We investigate the causal effect of patent rights on cumulative innovation, using large-scale data that approximate the patent universe in its technological and economic variety. We introduce a novel instrumental variable for patent invalidation that exploits personnel scarcity in post-grant opposition at the European Patent Office. We find that patent invalidation leads to a highly significant and sizeable increase of follow-on inventions. The effect is driven by cases where the removal of the individual exclusion right creates substantial freedom to operate for third parties. Importantly, our results suggest that bargaining failure between original and follow-on innovators is not limited to environments commonly associated with high transaction costs