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| Author: | Caballero-Sanz, F. Moner-Colonques, R. Sempere-Monerris, J.J. |
| Title: | Licensing policies for a new product |
| Journal: | Economics of innovation and new technology
2005 : NOV, VOL. 14:8, p. 697-713 |
| Index terms: | licensing new products |
| Freeterms: | market failures |
| Language: | eng |
| Abstract: | This article studies licensing policies for the owner of a new product and addresses their welfare impact in the assessment of market failures. It is shown that the best licensing policy for the patent holder is fixed fee licensing with an exclusive territory clause. Consumers are also better off with fixed fees but do not prefer the exclusive territory number of licences in the private market equilibrium falls short of the socially optimal solution. The analysis discloses that 1) any policy measures aimed at enhancing the diffusion of technology, in terms of the number of licences, would be welcomed and 3) the permissive treatment received by licensing agreements with exclusive territories is justified. |
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