Science fiction: Fictitious experiments in patents

Freilich, Janet; Ouellette, Lisa Larrimore

doi:10.1126/science.aax0748

Cited by 9 publications

(3 citation statements)

References 3 publications

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“…Furthermore, it enables us to not rely on patent data as a measure of innovation, given the shortcomings of patent measures. As has been noted in the innovation literature (e.g., Kelly [1990], Freilich [2019], Freilich and Ouellette [2019]), patents may not necessarily reflect actual innovation activity. For example, patents may be issued either for projects that do not exist or for projects that a firm does not intend to invest further in.…”

Section: Project Decisions and Iposmentioning

confidence: 99%

Do Mandatory Disclosure Requirements for Private Firms Increase the Propensity of Going Public?

Aghamolla

Thakor²

2021

J of Accounting Research

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This paper investigates the effect of mandatory disclosure requirements for private firms on their decision to go public. Using detailed project‐level data for biopharmaceutical firms, we explore the effects of a legal reform that exogenously required firms to publicly disclose information regarding clinical trials. Exploiting cross‐sectional heterogeneity in firms' exposure to the regulation based on their internal development portfolios, we find that affected firms are significantly more likely to transition to public equity markets following the reform. Moreover, firms that go public because of the increased disclosure requirements subsequently reduce the size of their project portfolios while shifting to safer investments acquired externally. We provide additional evidence for the main hypothesis using a second setting: a 2006 German reform which enhanced the enforcement of mandatory disclosure requirements for private firms. The results suggest that private firms' general information environment and disclosure requirements influence the propensity of going public.

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Section: Project Decisions and Iposmentioning

confidence: 99%

Do Mandatory Disclosure Requirements for Private Firms Increase the Propensity of Going Public?

Aghamolla

Thakor²

2021

J of Accounting Research

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“…Applicants can further exacerbate this problem if they choose to merely fabricate the potential applications of the invention as part of the specification. 25 These applications do not need evidence to demonstrate viability (Freilich, 2018;Freilich and Ouellette, 2019). Immediate disclosure may shift firms' incentives to ensure they have sufficient lead time to offset the risk that the patent is narrowed considerably during examination (or rejected altogether).…”

Section: Incentivising Higher Quality Applicationsmentioning

confidence: 99%

Decentralising the Patent System

Rassenfosse

Higham

2019

SSRN Journal

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This paper proposes a substantive rethink of the modern patent system. The patent system has come under intensive criticism in the past, and many scholars have proposed ways to improve it. Ideas for improvement include, e.g., prior-art bounties, contracting out examination and dynamic fee setting. However, many of these ideas have gone unheeded due to the cost of administering them and the rigidity of the patent system. We explore how distributed ledger technologies enable these major changes.

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“…In a scholarly Perspective on the early work on mechanically interlocked molecules by Lüttringhaus and Schill, he detailed and assessed Wasserman’s claims of statistical catenane synthesis . Brückner concluded that the “ scarcity, inconsistency, and even incredibility of pertinent data ” for 1 indicates that it should be considered as a “prophetic compound”, a technical term in patents used for molecules claimed without them having already been synthesized.…”

Section: Introductionmentioning

confidence: 99%

In Search of Wasserman’s Catenane

et al. 2023

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We repeat the earliest claimed [2]catenane synthesis, reported by Wasserman over 60 years ago, in order to ascertain whether or not a nontemplate, statistical synthesis by acyloin macrocyclization does indeed form mechanically interlocked rings. The lack of direct experimental evidence for Wasserman’s catenane has led to it being described as a “prophetic compound”, a technical term used in patents for claimed molecules that have not yet been synthesized. Contemporary synthetic methods were used to reconstruct Wasserman’s deuterium-labeled macrocycle and other building blocks on the 10–100 g reaction scale necessary to generate, in principle, ∼1 mg of catenane. Modern spectrometric and spectroscopic tools and chemical techniques (including tandem mass spectrometry, deuterium nuclear magnetic resonance (NMR) spectroscopy, and fluorescent tag labeling) were brought to bear in an effort to detect, isolate, and prove the structure of a putative [2]catenane consisting of a 34-membered cyclic hydrocarbon mechanically linked with a 34-membered cyclic α-hydroxyketone.

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Science fiction: Fictitious experiments in patents

Abstract: Prophetic examples may unnecessarily distort understanding

Cited by 9 publications

References 3 publications

Do Mandatory Disclosure Requirements for Private Firms Increase the Propensity of Going Public?

Do Mandatory Disclosure Requirements for Private Firms Increase the Propensity of Going Public?

Decentralising the Patent System

In Search of Wasserman’s Catenane

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