The NPE: Benevolent Middleman or Stick-Up Artist?

Working Papers

How do non-practicing entities impact innovation? This question has enormous relevance to industrial policy, with virtually no direct evidence to inform it. There are two dominant theoretical perspectives, one of which views Non-Practicing Entities (NPEs) as benevolent middlemen reallocating intellectual property (IP) to where it can be best used.Read More

Patent Value and Citations: Creative Destruction or Strategic Disruption?

Working Papers

Prior work suggests that more valuable patents are cited more and this view has become standard in the empirical innovation literature. Using an NPE-derived dataset with patent-specific revenues we find that the relationship of citations to value in fact forms an inverted-U, with fewer citations at the high end of value than in the middle.Read More