@techreport{Burhop2009historical,
abstract = {We investigate a sample of 180 technology licensing contracts closed by German chemical, pharmaceutical, and electrical engineering companies between 1880 and 1913. A regression analysis shows that licensing contracts closed before a patent was granted and contracts closed between firms and individual inventors had a higher probability of including a profit-sharing clause. This supports Jensen and Thursby's (2001) model, who propose equity-sharing licensing contracts to solve moral hazard problems. Moreover, we show that milestones were a substitute for profit shares. Furthermore, exclusive licences offered a significantly higher profit share to the licensor.},
address = {Bonn},
author = {Carsten Burhop and Thorsten L\"{u}bbers},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {N83; O32; L14; 330; Economic History; Germany; pre-1913; Licensing contracts; Technology transfer},
language = {eng},
number = {2009,25},
publisher = {Max Planck Inst. for Research on Collective Goods},
title = {The historical market for technology licenses: chemicals, pharmaceuticals, and electrical engineering in imperial Germany},
type = {Preprints of the Max Planck Institute for Research on Collective Goods},
url = {http://hdl.handle.net/10419/32238},
year = {2009}
}
