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| Tekijä: | |
| Otsikko: | Risk sharing in licensing |
| Lehti: | International Journal of Industrial Organization
1998 : SEP, VOL. 16:5, p. 535-554 |
| Asiasana: | Licensing Risk Products Innovation |
| Vapaa asiasana: | Royalties |
| Kieli: | eng |
| Tiivistelmä: | In the paper, the design of linear license contracts under demand or cost uncertainty is studied. The optimal contract consists, in general, of a mix of fixed fee and royalties. The source of uncertainty has a crucial impact on the type of royalties that must be used. In particular, under demand uncertainty at most two of the instruments are used. The contract generally combines a fixed fee with an ad valorem royalty. When cost is uncertain, a wider variety of cases can arise. The contract may involve a combination of either type of royalties, coupled with a fixed fee. Alternatively, it may be optimal to use all three available instruments. |
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