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Revisiting the consequences of loans secured by patents on technological firms' intellectual property and innovation strategies

dc.rights.licenseopenen_US
hal.structure.identifierGroupe de Recherche en Droit, Economie et Gestion [GREDEG]
dc.contributor.authorAYERBE, Cécile
hal.structure.identifierToulouse School of Management Research [TSM]
dc.contributor.authorAZZAM, Jamal
hal.structure.identifierBordeaux Sciences Economiques [BSE]
dc.contributor.authorBOUSSETTA, Selma
hal.structure.identifierBureau d'Économie Théorique et Appliquée [BETA]
dc.contributor.authorPENIN, Julien
dc.date.accessioned2023-07-07T09:52:02Z
dc.date.available2023-07-07T09:52:02Z
dc.date.issued2023-10-01
dc.identifier.issn0048-7333en_US
dc.identifier.urioai:crossref.org:10.1016/j.respol.2023.104824
dc.identifier.urihttps://oskar-bordeaux.fr/handle/20.500.12278/183341
dc.description.abstractEnThis article analyzes the impact of loans secured by patents (LSPs) on the intellectual property and innovation strategy of technological firms that benefit from them. The literature mostly emphasizes that LSPs, by reducing the risk taken by lenders in case of borrowers' default, facilitate the financing of technological firms. However, it remains silent on the impact of LSPs on the behavior and strategy of borrowers. With regard to this second point, our research suggests that LSPs are not neutral. In particular, we provide evidence that LSPs might induce technological firms to deviate from innovative activities toward more short-term strategies based on the monetization and litigation of their patents. We also show that financing groups might attempt to encourage this strategic change. Our research is based, first, on empirical insights provided by a qualitative analysis of publicly known LSPs offered by an international investment group and their consequences for four borrowers. Second, we propose a theoretical model that formally explores how LSPs might impact borrowers' strategies. Even though the welfare implications of these findings are difficult to evaluate, this research has likely important economic and managerial implications with regard to intellectual property management, the financing of innovation and the organization of the innovation process.
dc.language.isoENen_US
dc.sourcecrossref
dc.title.enRevisiting the consequences of loans secured by patents on technological firms' intellectual property and innovation strategies
dc.typeArticle de revueen_US
dc.identifier.doi10.1016/j.respol.2023.104824en_US
dc.subject.halSciences de l'Homme et Société/Economies et financesen_US
bordeaux.journalResearch Policyen_US
bordeaux.page104824en_US
bordeaux.volume52en_US
bordeaux.hal.laboratoriesBordeaux Sciences Economiques / Bordeaux School of Economics (BSE) - UMR 6060en_US
bordeaux.issue8en_US
bordeaux.institutionUniversité de Bordeauxen_US
bordeaux.institutionCNRSen_US
bordeaux.peerReviewedouien_US
bordeaux.inpressnonen_US
bordeaux.import.sourcedissemin
hal.identifierhal-04155313
hal.version1
hal.date.transferred2023-07-07T09:52:07Z
hal.popularnonen_US
hal.audienceInternationaleen_US
hal.exporttrue
workflow.import.sourcedissemin
dc.rights.ccCC BYen_US
bordeaux.COinSctx_ver=Z39.88-2004&rft_val_fmt=info:ofi/fmt:kev:mtx:journal&rft.jtitle=Research%20Policy&rft.date=2023-10-01&rft.volume=52&rft.issue=8&rft.spage=104824&rft.epage=104824&rft.eissn=0048-7333&rft.issn=0048-7333&rft.au=AYERBE,%20C%C3%A9cile&AZZAM,%20Jamal&BOUSSETTA,%20Selma&PENIN,%20Julien&rft.genre=article


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