The transfer and value of academic inventions when the TTO is one option

Abstract

Although the transfer of professors' inventions is typically performed by an intermediary set up by the university (the technology transfer office), other forms of transfer do coexist in reality. To clarify this situation and its consequences, we develop a model that endogenizes a professor's decision regarding the form of transfer for her invention in which intermediation by the transfer office is only one of two options, the other one being a transfer carried out by the professor herself. The intermediary can reach more potential licensees of the invention, whereas the professor is usually better at mitigating information asymmetry through signaling. In the semiseparating equilibrium of the game, promising technologies are likely to be cherry‐picked and transferred by the professor. This prediction that the transfer mode is influenced by invention quality is tested and confirmed, as are several other predictions, on our sample of 446 UK academic inventors. Specific care is taken to control for other mechanisms of IP assignment, such as those derived from consulting and sponsored research. Insights in terms of policy are drawn from this new perspective focusing on alternative transfer channels, match quality, and information asymmetry rather than on moral hazard.

Universities involvement in patent litigation: an analysis of the characteristics of US litigated patents

“…on academic inventions (Carayol & Sterzi, 2021;Czarnitzki et al, 2011;Henderson et al, 1998;Sterzi, 2013). Patent quality has been found in the literature as one of the main variables correlated with litigation when plaintiffs are product companies (Bessen & Meurer, 2006;Harhoff et al, 2003).…”

Intermediation and information asymmetries in technology transfer between university and industry

“…-Calidad científica: Hace referencia a la información soportada y validada que sobre la tecnología conoce el inventor [24].…”

“…-Valor comercial (invención): Valor que puede asumir la tecnología en el marco del proceso de su transferencia a un tercero teniendo en cuenta el comportamiento del mercad o . Esta información puede tener mayor probabilidad de ser conocida por parte del empresario que está en el sector comercial [24].…”

“…El primero posee información sobre la calidad de la tecnología, y el segundo conoce el mercado y el posible valor que podría adquirir la tecnología. No obstante, de acuerdo con la literatura se propone que mediante la participación de un agente intermediario de innovación, estas asimetrías podrían llegar a reducirse al intentar generar un punto de equilibrio en la información sobre la invención y su mercado, en el marco de un proceso de transferencia de tecnología [24].…”

The impact of the abolishment of the professor's privilege on European university-owned patents

“…Finally, an academic patent may be owned by a company also when professors may have bypassed the university administration; and this may be more likely to happen when professors believe they have a high-valuable invention at hand (Carayol and Sterzi 2019).…”