Property Rights, Firm Size and Investments in Innovation: Evidence from the America Invents Act

James Driver

Working Papers from U.S. Census Bureau, Center for Economic Studies

Abstract: I analyze whether a change in patent systems differentially affects firm-level innovation investments at patent-valuing firms of different sizes. Using legally required, economically representative, U.S. Census Bureau microdata, I separate firms into groups based on a firm’s response to a question asking it to rank the degree of patent importance to its business and firm-size. I then measure how firms’ innovation inputs/outputs respond to the America Invents Act (AIA). Results show the AIA reduced innovation investments at smaller, patent-valuing firms while increasing innovation investments at larger, patent-valuing firms, highlighting differential firm-size effects of patent policy and policy’s importance to investments.

Keywords: Investments; innovation; patents; firm size (search for similar items in EconPapers)
JEL-codes: L25 O3 O51 (search for similar items in EconPapers)
Date: 2025-05
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Persistent link: https://EconPapers.repec.org/RePEc:cen:wpaper:25-31

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