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dc.contributor.authorBurhop, Carstenen_US
dc.contributor.authorLübbers, Thorstenen_US
dc.date.accessioned2009-09-17en_US
dc.date.accessioned2010-05-14T12:02:08Z-
dc.date.available2010-05-14T12:02:08Z-
dc.date.issued2009en_US
dc.identifier.urihttp://hdl.handle.net/10419/32238-
dc.description.abstractWe 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.en_US
dc.language.isoengen_US
dc.publisherMax Planck Inst. for Research on Collective Goods Bonnen_US
dc.relation.ispartofseriesPreprints of the Max Planck Institute for Research on Collective Goods 2009,25en_US
dc.subject.jelN83en_US
dc.subject.jelO32en_US
dc.subject.jelL14en_US
dc.subject.ddc330en_US
dc.subject.keywordEconomic Historyen_US
dc.subject.keywordGermanyen_US
dc.subject.keywordpre-1913en_US
dc.subject.keywordLicensing contractsen_US
dc.subject.keywordTechnology transferen_US
dc.titleThe historical market for technology licenses: chemicals, pharmaceuticals, and electrical engineering in imperial Germanyen_US
dc.typeWorking Paperen_US
dc.identifier.ppn608966142en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
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