Open Access. Powered by Scholars. Published by Universities.®
- Institution
Articles 1 - 6 of 6
Full-Text Articles in Business
Milestone Payments Or Royalties? Contract Design For R&D Licensing, Pascale Crama, Bert De Reyck, Zeger Degraeve
Milestone Payments Or Royalties? Contract Design For R&D Licensing, Pascale Crama, Bert De Reyck, Zeger Degraeve
Research Collection Lee Kong Chian School Of Business
We study how innovators can optimally design licensing contracts when there is incomplete information on the licensee's valuation of the innovation, and limited control over the licensee's development efforts. A licensing contract typically contains an up-front payment, milestone payments at successful completion of a project phase, and royalties on sales. We use principal-agent models to formulate the licensor's contracting problem, and we find that under adverse selection, the optimal contract structure changes with the licensee's valuation of the innovation. As the licensee's valuation increases, the licensor's optimal level of involvement in the development-directly or through royalties-should decrease. Only a risk-averse …
Torts And Innovation, Gideon Parchomovsky, Alex Stein
Torts And Innovation, Gideon Parchomovsky, Alex Stein
All Faculty Scholarship
This Essay exposes and analyzes a hitherto overlooked cost of the current design of tort law: its adverse effect on innovation. Tort liability for negligence, defective products, and medical malpractice is determined by reference to custom. We demonstrate that courts’ reliance on custom and conventional technologies as the benchmark of liability chills innovation and distorts its path. Specifically, the recourse to custom taxes innovators and subsidizes replicators of conventional technologies. We explore the causes and consequences of this phenomenon and propose two possible ways to modify tort law in order to make it more welcoming to innovation.
Schumpeterian Competition And Antitrust, Herbert J. Hovenkamp
Schumpeterian Competition And Antitrust, Herbert J. Hovenkamp
All Faculty Scholarship
Joseph Schumpeter's vision of competition saw it as a destructive process in which effort, assets and fortunes were continuously destroyed by innovation. One possible implication is that antitrust's attention on short-run price and output issues is myopic: what seems at first glance to be a monopolistic exclusionary practice might really be an innovative enterprise with enormous payoffs in the long run. While this may be the case, three qualifications are critical. First, one must not confuse the prospect of innovation with the scope of the intellectual property laws; their excesses and special interest capture cast serious doubt on the proposition …
Viewing Virtual Property Ownership Through The Lens Of Innovation, Ryan G. Vacca
Viewing Virtual Property Ownership Through The Lens Of Innovation, Ryan G. Vacca
Law Faculty Scholarship
Over the past several years scholars have wrestled with how property rights in items created in virtual worlds should be conceptualized. Regardless of how the property is conceptualized and what property theory best fits, most agree the law ought to recognize virtual property as property and vest someone with those rights.
Continence Care: The Need For Creativity And Innovation, Karen A. Karlowicz
Continence Care: The Need For Creativity And Innovation, Karen A. Karlowicz
Nursing Faculty Publications
(First paragraph) In April 2007, I attended a conference quite different from anything I had previously experienced. The conference, Innovating for Continence: The Engineering Challenge, was hosted by the Simon Foundation for Continence. As the title implies, this was not your usual conference about the diagnosis, treatment, and management of urinary incontinence. Rather, it was a conference dedicated to exploring technological advances in continence care. The central question throughout this two-and-a-half day event was, "What can be done to simulate continence technology to ensure the most effective management for persons who suffer with this problem?"
Technology Strategy And China's Technology Capacity Building, Arnoud De Meyer
Technology Strategy And China's Technology Capacity Building, Arnoud De Meyer
Research Collection Lee Kong Chian School Of Business
China has the potential to become a major source of innovation for the world. The scientific investment is in place and rapidly growing. But in order to reap the benefits of this investment its organisations will have to become better at managing innovation. One of the key elements of innovation management is the determination and implementation of a sound technology strategy. The purpose of this paper is to offer a framework and a detailed overview of what it entails to develop and implement a technology strategy. The paper emphasizes the alignment of the strategy with the organisational competencies and the …