Is There a Role for Patents in the Financing of New Innovative Firms?
No 24370, NBER Working Papers from National Bureau of Economic Research, Inc
It is argued by many that one of the benefits of the patent system is that it creates a property right to invention that enables firms to obtain financing for the development of that invention. In this paper, I review the reasons why ownership of knowledge assets might be useful in attracting finance and then survey the empirical evidence on patent ownership and its impact on the ability of firms to obtain further financing at different stages of their development, both starting up and after becoming established. Studies that attempt to separately identify the role of patent rights and the underlying quality of the associated innovation(s) will be emphasized, although these are rather rare.
JEL-codes: G24 G32 L26 O34 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cfn, nep-ino, nep-ipr, nep-law, nep-sbm and nep-tid
Note: CF IO PR
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1) Track citations by RSS feed
Published as Bronwyn H Hall, 2019. "Is there a role for patents in the financing of new innovative firms?," Industrial and Corporate Change, vol 28(3), pages 657-680.
Downloads: (external link)
Journal Article: Is there a role for patents in the financing of new innovative firms? (2019)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:nbr:nberwo:24370
Ordering information: This working paper can be ordered from
Access Statistics for this paper
More papers in NBER Working Papers from National Bureau of Economic Research, Inc National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.. Contact information at EDIRC.
Bibliographic data for series maintained by ().