Journal
JOURNAL OF LEGAL ANALYSIS
Volume 12, Issue -, Pages 183-220Publisher
OXFORD UNIV PRESS
DOI: 10.1093/jla/laaa001
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Funding
- Hoover Institution Working Group on Intellectual Property, Innovation, and Prosperity
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Competition between firms to invent and patent an idea, or patent racing, has been much discussed in theory, but seldom analyzed empirically and never at scale. This article introduces an empirical way to identify patent races, and provides the first broad-based view of them in the real world. It reveals that patent races are common, particularly in information-technology fields. The article then analyzes the effect of winning a patent race, showing that patent race winners do significantly more follow-on innovation, and their follow-on research is more similar to what was covered by the patent.
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