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Many hands: The effect of the prior inventor-intermediaries relationship on academic licensing |
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| Authors: | Young-Choon Kim Mooweon Rhee Reddi Kotha |
| Institution: | 1. School of Business Administration, Ulsan National Institute of Science and Technology (UNIST), Ulsan 689-798, Republic of Korea;2. School of Business, Yonsei University, 50 Yonsei-ro, Seodaemun-gu, Seoul 120-749, Republic of Korea;3. Lee Kong Chian School of Business, Singapore Management University, 50 Stamford Road, 178899, Singapore |
| Abstract: | We study the role of the relationship among inventors and intermediaries in the licensing of university inventions. We suggest that a prior inventor-intermediaries relationship positively influences licensing rates through selective retention of higher quality relationships and mutual learning in the relationship, enabling intermediaries to reduce both information asymmetry and search costs between inventors and potential licensees. We argue that the influence of a prior inventor-intermediaries relationship on licensing is especially important before intellectual property protection is attained and can be substituted by the buyer-side contacts of inventors and intermediaries. We test these predictions using 919 inventions from the technology transfer office at Stanford University. This study has implications for the policies and design of university technology licensing organizations. |
| Keywords: | Prior relationship Intermediaries Licensing Academic science Intellectual property |
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