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| Dusanee Kesavayuth |
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| ''Patent licensing and research exemption'' |
| ( 2009, Vol. 29 No.2 ) |
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| Within an environment of sequential innovations, real world evidence suggests that the licensing decision of the initial patent can occur either before or after the R&D investment of the follow-on invention. The possibility of licensing after the follow-on invention exists due to the presence of research exemption. This paper examines how the research exemption influences the licensor''s decision to license prior to the discovery of the follow-on invention. Within a three firm setting, the paper reveals that the research exemption does not alter the licensing decision while promoting a stream of future inventions. This provides an argument in support of research exemption as legal scheme. |
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| Keywords: patent, licensing, research exemption |
JEL: L5 - Regulation and Industrial Policy: General
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| Manuscript Received : Feb 18 2009 | | Manuscript Accepted : May 12 2009 |
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