Does shareholder overlap alleviate patent holdup?

IF 8 1区管理学 Q1 MANAGEMENT

Research Policy Pub Date : 2024-12-31 DOI:10.1016/j.respol.2024.105167

Heng Geng , Harald Hau , Sandy Lai , Pengfei Liu

引用次数: 0

Abstract

Patent protection can generate holdup problems for follow-on innovators when technologies protected in early patents complement their inventions. This study investigates whether institutional shareholder overlap between firms with precursory patents and follow-on innovators can reduce such patent holdup problems. Using patent citation links to track complementary patents, we find empirical support for such a holdup attenuation hypothesis of institutional shareholder overlap. Follow-on innovators with greater institutional shareholder overlap to precursory patent owners enjoy greater success with their patent portfolio, face less patent conflict as measured by patent litigation, and feature higher levels of R&D investments. The holdup attenuation effect is stronger if product complexity makes securing ex ante patent licenses more difficult.

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股东重叠是否能缓解专利拖延？

当早期专利保护的技术补充了后续创新者的发明时，专利保护可能会给后续创新者带来阻碍问题。本研究探讨了拥有先期专利和后继创新者的公司之间的机构股东重叠是否可以减少此类专利劫持问题。利用专利引文链接跟踪互补专利，我们发现了机构股东重叠的这种占用衰减假设的实证支持。机构股东与前驱专利权人重叠程度较高的后继创新者，其专利组合取得的成功更大，通过专利诉讼衡量的专利冲突更少，研发投资水平更高。如果产品的复杂性使得事先获得专利许可变得更加困难，那么占用衰减效应就会更强。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Research Policy MANAGEMENT-

CiteScore

12.80

自引率

6.90%

发文量

182

期刊介绍： Research Policy (RP) articles explore the interaction between innovation, technology, or research, and economic, social, political, and organizational processes, both empirically and theoretically. All RP papers are expected to provide insights with implications for policy or management. Research Policy (RP) is a multidisciplinary journal focused on analyzing, understanding, and effectively addressing the challenges posed by innovation, technology, R&D, and science. This includes activities related to knowledge creation, diffusion, acquisition, and exploitation in the form of new or improved products, processes, or services, across economic, policy, management, organizational, and environmental dimensions.