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[NEW WORKING PAPER!] "Do Patent Assertion Entities Harm Innovation? Evidence from Patent Transfers in Europe.” Cahiers du GREThA 2018-08,

Orsatti, Gianluca & Sterzi, Valerio, "Do Patent Assertion Entities Harm Innovation? Evidence from Patent Transfers in Europe"

Abstract The recent upsurge of patent litigation cases initiated by patent assertion entities (PAEs) in the U.S. has led to an intense debate about their effect on innovation performances and on the IP system functioning. We contribute to this debate by providing original evidence based on the patenting activity of PAEs in Europe, a region where the patent assertion landscape is growing rapidly and the imminent introduction of the Unified Patent Court and the Unitary Patent will upset the current schemes. Relying on EPO (European Patent Office) data on patent transfers and patent citations, our results show that PAEs acquire patents with high average technological quality. They may thus increase liquidity in the patent market and enhance its efficiency. However, after a transfer occurs, patents transferred to PAEs receive significantly fewer ci…
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[NEW WORKING PAPER!] "Dancing with the Stars: Innovation through Interactions.” NBER Working Paper 24466

Akcigit, Ufuk, Santiago Caicedo Soler, Ernest Miguelez, Stefanie Stantcheva, and Valerio Sterzi. “Dancing with the Stars: Innovation through Interactions.” NBER Working Paper 24466.

An inventor's own knowledge is a key input in the innovation process. This knowledge can be built by interacting with and learning from others. This paper uses a new large-scale panel dataset on European inventors matched to their employers and patents. We document key empirical facts on inventors' productivity over the life cycle, inventors' research teams, and interactions with other inventors. Among others, most patents are the result of collaborative work. Interactions with better inventors are very strongly correlated with higher subsequent productivity. These facts motivate the main ingredients of our new innovation-led endogenous growth model, in which innovations are produced by heterogeneous research teams of inventors using inventor knowledge. The evolution of an inventor&#…

Workshop on Patent Intermediaries and Innovation

PATENT INTERMEDIARIES,MARKETS FOR TECHNOLOGIES AND INNOVATION: LESSONS FROM THE UNITED STATES AND EUROPE @ UNIVERSITY OF BORDEAUX - JUNE 22, 2018How do patent intermediaries impact on innovation and markets for technologies? What is the role of patent assertion entities and defensive patent aggregators?  GREThA, the Research Group on Theoretical and Applied Economics of the University of Bordeaux, hosts a one-day workshop on these and related topics, with the participation of economists and legal scholars from both Europe and the US. They will share their research experience with both scholars and practitioners, commenting on recent findings, new research avenues, and policy issues. 

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Attendance is free but registration is compulsory. To register, please contact by JUNE 15, 2018

The project on "Non-Practicing Entities and Innovation in Europe" has won a grant from the ANR (JCJC)

Project Summary During the last two decades, increased opportunities for patent monetization have resulted in the rise of institutions facilitating the sale of patents (Hagiu and Yoffie, 2013). New intermediaries, such as patent aggregators and, more generally, non-practicing entities (NPEs) have become quite influential and controversial in the industries they touch, sparking heated debates, especially in the US, about the economic role they play in the patent market and their effects on innovation dynamics. In part reflecting the debate on NPEs, the US Congress introduced several bills proposing to finely regulate the process of patent licensing and assertion. Until now, scholars have considered NPEs as almost exclusively confined within US borders. Conventional wisdom holds that patent monetization is pursued less often in Europe, due to some combination of higher cost of enforcement and smaller damages awards. However, some recent papers have shown that NPEs are hardly a uniquely …