How are companies paying for university research licenses? Empirical evidence from university-firm technology transfer

Emerging best strategies and capabilities for university–industry cooperation: opportunities for MSMEs and universities to improve collaboration. A literature review 2000–2023

“…5. Startups, intellectual property, and patent creation (Aksoy & Beaudry, 2021;Brem et al, 2017;Messina et al, 2022;Thomas & Maine, 2019) Because of the limitations on university employees, the creation of startups by students is much more common. These activities require long-term cooperation between universities and industry, high shared trust (Bellini et al, 2019;Happonen & Siljander, 2020), and transparency.…”

Prestige and technology-transaction prices: Evidence from patent-selling by Chinese universities

“…In the valuation stage, a buyer' s willingness to pay (WTP) is determined for transactions involving patented technologies (Shapiro 1985;Sohn et al, 2013). A firm' s WTP is influenced by the perceived benefits and risks of the patented technology (Aksoy and Beaudry 2021). In the context of UTT, when firms assess a technology, they scrutinize both the technology and the inventor team, because firms want assurance that the inventor team will provide sufficient human and social capital in addition to technological expertise, all of which are essential for successful commercialization of university technology (Shane and Stuart 2002;Houweling and Wolff 2020).…”

“…Second, inventor team prestige affects WTP by influencing the perceived risks involved in buying a university technology. Commercializing university technologies requires considerable investment, while firms, especially start-ups, face risks derived from thin financial resources (Jensen and Thursby 2001;Higgins et al, 2011;Aksoy and Beaudry 2021). Social capital contributed by partners such as universities may help firms obtain financial resources from investors and government funding agencies (Fuller and Rothaermel 2012;Shane and Stuart 2002).…”

“…The market for technology plays an important role in exploiting the value of research and development (R&D), facilitating the diffusion of technology and increasing the efficiency of innovations (Arora et al, 2001;Gambardella et al, 2007;Chatterji and Fabrizio 2014). In this market, selling or licensing inventions generated in universities facilitates the realization of the potential economic and social value of universities' technological knowledge (Jensen and Thursby 2001;Caviggioli et al, 2020;Aksoy and Beaudry 2021). Understanding how best to successfully transfer scientific knowledge to industry is considered a crucial issue for national innovation systems and economic development (Agrawal 2006;Bradley et al, 2013;Klofsten et al, 2019).…”

“…Patent information is typically used to indicate a technology's value (Gambardella et al 2007(Gambardella et al , 2008Sakakibara 2010;Odasso et al, 2015). Although patent documents can provide useful public information regarding the codified part of a technology, they fail to reveal tacit knowledge and thereby eliminate all information asymmetry (Munari and Oriani 2011;Aksoy and Beaudry 2021).…”