Equity and the Technology Transfer Strategies of American Research Universities

Maryann Feldman (), Irwin Feller (), Janet Bercovitz () and Richard Burton ()
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Maryann Feldman: Whiting School of Engineering, Johns Hopkins University, Baltimore, Maryland 21218
Irwin Feller: Department of Economics, Pennsylvania State University, University Park, Pennsylvania 16802
Janet Bercovitz: The Fuqua School of Business, Duke University, Durham, North Carolina 27708
Richard Burton: The Fuqua School of Business, Duke University, Durham, North Carolina 27708

Management Science, 2002, vol. 48, issue 1, 105-121

Abstract: American universities are experimenting with new mechanisms for promoting the commercialization of academic research and generating revenue from university intellectual property. This paper discusses mechanisms available to universities in managing the commercialization of intellectual property, considering equity as a technology transfer mechanism that offers advantages for both generating revenue and aligning the interests of universities, industry and faculty. Employing data from a national survey of Carnegie I and Carnegie II institutions, we document the recent rise in university equity holdings. We present and estimate a model that considers the university's use of equity to be a function of behavioral factors related to the university's prior experiences with licensing, success relative to other institutions, and the organization of the technology transfer office, as well as structural characteristics related to university type.

Keywords: University-Industry Relationships; Equity Financing; Academic Patents; Licensing; Technology Transfer (search for similar items in EconPapers)
Date: 2002
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Citations: View citations in EconPapers (106)

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Persistent link: https://EconPapers.repec.org/RePEc:inm:ormnsc:v:48:y:2002:i:1:p:105-121

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