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http://hdl.handle.net/10419/32238
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| Title: | | The historical market for technology licenses: chemicals, pharmaceuticals, and electrical engineering in imperial Germany  |
| Authors: | | Burhop, Carsten Lübbers, Thorsten |
| Issue Date: | | 2009 |
| Series/Report no.: | | Preprints of the Max Planck Institute for Research on Collective Goods 2009,25 |
| 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. |
| Subjects: | | Economic History Germany pre-1913 Licensing contracts Technology transfer |
| JEL: | | N83 O32 L14 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Preprints of the Max Planck Institute for Research on Collective Goods
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