000 | 01390nab a22001817a 4500 | ||
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008 | 160615b2014 xxu||||| |||| 00| 0 eng d | ||
100 | _aFischer, Timo | ||
245 |
_aWhat patents are used as collateral? _cAn empirical analysis of patent reassignment data / Fischer |
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260 | _c2014 | ||
300 | _a633-650 | ||
520 | _aOnly anecdotal evidence exists that ventures use patents as collateral to access debt financing. In this paper, we use a novel dataset on patent reassignments with a security interest to explore quantitatively what patents are used as collateral. We analyze characteristics of patents to disentangle whether it is the technology underlying a patent or the patent's exclusion right per se matters for collateralization. We do find empirical support only for technology-related characteristics, suggesting that lenders use patents to collateralize high-quality technology that can, in case of default, be redeployed to ventures in similar technology fields. On the other hand, patent-related characteristics like scope, which are, in general, related to patent value and are particularly important for non-practicing entities, do not matter. | ||
650 | _aMarket For Technologies | ||
650 | _aNon-Practicing Entities | ||
650 | _aPatent Monetization | ||
650 | _aPatents As Collateral | ||
650 | _aPatents | ||
773 |
_aJournal of Business Venturing _dSetpember |
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999 |
_c41532 _d41532 |