17,090 research outputs found
The Dynamics of the Transfer and Renewal of Patents
This paper explores a new dataset of transfers of patents recorded at the United States Patent and Trademark Office. The aim of the paper is twofold. First, a number of patterns are presented. For instance, the probability of a patent being traded monotonically decreases as a function of its age except at the renewal dates. Immediately after renewal, this probability discontinuously increases. Among patents of the same age, the probability of being traded and the probability of being renewed is increasing in the total number of citations received. Moreover, previously traded patents, and especially the recently traded, are more likely to be traded and less likely to be allowed to expire than patents not previously traded. Second, the paper extends Pakes and Schankerman\\'s patent renewal framework in order to develop a model of the transfer and renewal of patents. Two new key features of the model are motivated by the patterns documented: gains from reallocating patents to more productive firms and costs of adopting technology.Markets for Technology; Patents; Transfer of Patents
How redeployable are patent assets? Evidence from failed startups
Entrepreneurial firms are important sources of patented inventions. Yet little is known about what happens to patents "released" to the market when startups fail. This study provides a first look at the frequency and speed with which patents originating from failed startups are redeployed to new owners, and whether the value of patents is tied to the original venture and team. The evidence is based on 1,766 U.S. patents issued to 285 venture capital-backed startups that disband between 1988 and 2008 in three innovation-intensive sectors: medical devices, semiconductors, and software. At odds with the view that the resale market for patented inventions is illiquid, we find that most patents from these startups are sold, are sold quickly, and remain "alive" through renewal fee payment long after the startups are shuttered. The patents tend to be purchased by other operating companies in the same sector, and retain value beyond the original venture and team. We do find, however, that the patents and people sometimes move jointly to a new organization following the dissolution of the original venture, and explore the conditions under which such co-movement is more likely. The study provides new evidence on a phenomenon-of active markets for buying and selling patents-underexplored in the strategy literature and consequential for both entrepreneurial and established firms.Accepted manuscrip
A distributional checklist of the leaf-cutting bees (Hymenoptera: Megachilidae) of Florida
The leaf-cutting bees are a diverse group which is commonly encountered all across the country. With over 600 North American species, most of which are in the genera Anthidium, Dianthidium, Stelis, Heriades, Hoplitis, Osmia, Megachile and Coelioxys, there are numerous ânon-Apisâ pollinators. Being an important taxon, there is a definite need for an awareness of their distribution across the United States and, perhaps in time, everywhere. This may allow us to follow the establishment of exotic species such as Megachile [Callomegachile] torrida Smith, M. [Pseudomegachile] lanata Fabricius, and an unidentified exotic which is listed below in the subgenus Callomegachile
Cluster of galaxies around seven radio-loud QSOs at 1<z<1.6: K-band images
We have conducted a NIR study of the environments of seven radio-loud quasars
at redshifts 1<z<1.6. In present paper we describe deep band images
obtained for the fields of ~6X6 arcmin around the quasars with 3
limiting magnitudes of K~20.5. These fields were previously studied using deep
B and R band images (Sanchez & Gonzalez-Serrano 1999). Using together optical
and NIR data, it has been found a significant excess of galaxies which
optical-NIR colours, luminosity, spatial scale, and number of galaxies are
compatible with clusters at the redshift of the quasar.
We have selected a sample of cluster candidates analyzing the R-K vs. K
diagram. A ~25% of the candidates present red optical-NIR colours and an
ultraviolet excess. This population has been also found in clusters around
quasars at the same redshifts (Tanaka et al. 2000; Haines et al. 2001). These
galaxies seem to follow a mixed evolution: a main passive evolution plus late
starformation processes. The quasars do not inhabit the core of the clusters,
being found in the outer regions. This result agrees with the hypothesis that
the origin/feeding mechanism of the nuclear activity were merging processes.
The quasars inhabit the region were a collision is most probably to produce a
merger.Comment: 15 pages. A&A, accepted for publishin
Is there a Risk-Return Trade-off across Occupations? Evidence from Spain
We use data from Spain to test for an effect of earnings risk and skewness on individual wages. We carry out separate estimation for men, women, public and private sector employees. In accordance with previous evidence for the US we show the existence of a risk-return trade-off across occupations in the Spanish labour market. These results are in conformity with preferences of risk-averse individuals with decreasing absolute risk aversion.Risk-aversion, skewness affection,occupational choices,compensating wage differentials
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