The Role of Corporate Venture Capital Investments in Patent Sales of High-Tech Ventures
2018.11.08 |
| Date | Fri 23 Nov |
| Time | 10:00 — 11:00 |
| Location | Room 2628-M211, Department of Management, Aarhus BSS, Aarhus University |
On Friday, 23 November at 10:00 in room M211, Assistant Professor Francesco Di Lorenzo from the Strategy and Innovation department at CBS will give a seminar entitled
The Role of Corporate Venture Capital Investments in Patent Sales of High-Tech Ventures
Everyone is welcome!
Abstract
Patents are important strategic assets for high-tech ventures. However, many ventures sell patents instead of investing time and resources for commercializing them. We explore the organizational underpinnings for these decisions. We highlight the role of the venture’s investors and corporate venture capital (CVC) investments in particular. We integrate CVC literature into theory from markets for technology and predict that CVC investments provide access to complementary assets for ventures, reducing the likelihood for patent sales. Effects are expected to be stronger for patents with high strategic value for the CVC, i.e. specialized technological expertise of the venture and in strong IPR regimes. We test and support these hypotheses analyzing 12,024 patents of 1,679 US-based ventures between 2004 and 2009. Our findings have implications for the strategic management of technologies.