Troy A. Paredes

Perspectives on Commercializing Innovation

Part I. Perspectives on Theories of Intellectual Property: 1. Intellectual property and the theory of the firm Daniel F. Spulber 2. A transactional view of property rights Robert P. Merges 3. The modularity of patent law Henry E. Smith 4. Forging a new environmental and resource economics paradigm: the contractual bases for exchange Terry L. Anderson and Gary D. Libecap 5. Commercializing the public domain Michael B. Abramowicz Part II. Perspectives on the Problems of Anticommons and Patent Thickets: 6. A private ordering solution to the public problems of anticommons F. Scott Kieff and Troy A. Paredes 7. Understanding the RAND commitment Douglas Lichtman 8. Embryonic inventions and embryonic patents: prospects, prophecies, and pedis possessio John F. Duffy 9. Innovation and its discontents Adam B. Jaffe and Josh Lerner Part III. Perspectives on Finance and Commercialization: 10. Patents as options Shaun Martin and Frank Partnoy 11. Access to finance and the technological innovation: a historical experiment Stephen Haber 12. The decline of the American inventor: a Schumpeterian story? Naomi R. Lamoreaux and Ken Sokoloff Part IV. Perspectives on the University Innovation: 13. University software: patents, open source, and commercialization John R. Allison, Arti K. Rai and Bhaven Sampat 14. The impact of the Bayh-Dole Act on genetic research and development: evaluating the arguments and empirical research to date Charles R. McManis and Sucheol Noh 15. Patents, material transfers and access to research inputs in biomedical research Wesley M. Cohen, John P. Walsh and Charlene Cho 16. Are universities the new patent trolls? Mark Lemley Part V. Perspectives on International Considerations: 17. Successful factors for commercializing the results of research and development in emerging economies - a preliminary study of ITRI in Taiwan Paul C. B. Liu, Kuang-Wei Chueh and Mong-Yao Ker 18. Commercializing university research: beyond economic incentives Richard Gold.

On the Importance to Economic Success of Property Rights in Finance and Innovation

This Essay surveys recent developments across the fields of finance and innovation to highlight some common themes concerning the importance of property rights to economic success. Society regularly makes choices when shaping the precise contours of the legal institutions that govern the behavior of market actors, often in response to high profile issues like the collapse of Enron and the patenting of life-saving AIDS drugs. Recognizing that no set of legal institutions or related enforcement mechanisms will be perfect, this Essay explores some particularly helpful institutional features based on property rights that too often are overlooked by policy makers and commentators, even though these property-based institutional features have long been associated with economic success in a number of diverse settings.

The Impact of the Bayh-Dole Act on Genetic Research and Development

This book chapter summarizes the theoretical arguments for and against patenting upstream genetic research and vesting presumptive patent ownership in the recipients of federally funded genetic research, with a view to determining who should bear the burden of proof on specific aspects of these two questions. The chapter also evaluates the weight of the empirical evidence concerning each question made available between 2004 and 2007, with a view to determining how that evidence seems to preponderate. While neither the theoretical arguments nor the empirical evidence are likely to put an end to the fractious debate over these issues, both the theoretical arguments and the empirical evidence to date clearly seem to preponderate in favor of the proponents of patenting upstream genetic research and vesting presumptive patent ownership in the recipients of federally funded genetic research. Indeed, very little empirical evidence has been produced to date to support the argument that granting patents on the results of “upstream” genetic research undermines the norms of the biological research community or retards biomedical innovation, technology transfer, or the development of downstream commercial products and processes. To the contrary, the preponderance of the empirical evidence produced to date seems to suggest that, by vesting presumptive patent ownership in the recipients of federally funded genetic research, the Bayh-Dole Act is indeed achieving not only its statutory purpose but also the larger, constitutionally mandated requirement that the U.S. patent system “promote the Progress of Science and the useful Arts.”

Perspectives on Commercializing Innovation: Perspectives on International Considerations

Part I. Perspectives on Theories of Intellectual Property: 1. Intellectual property and the theory of the firm Daniel F. Spulber 2. A transactional view of property rights Robert P. Merges 3. The modularity of patent law Henry E. Smith 4. Forging a new environmental and resource economics paradigm: the contractual bases for exchange Terry L. Anderson and Gary D. Libecap 5. Commercializing the public domain Michael B. Abramowicz Part II. Perspectives on the Problems of Anticommons and Patent Thickets: 6. A private ordering solution to the public problems of anticommons F. Scott Kieff and Troy A. Paredes 7. Understanding the RAND commitment Douglas Lichtman 8. Embryonic inventions and embryonic patents: prospects, prophecies, and pedis possessio John F. Duffy 9. Innovation and its discontents Adam B. Jaffe and Josh Lerner Part III. Perspectives on Finance and Commercialization: 10. Patents as options Shaun Martin and Frank Partnoy 11. Access to finance and the technological innovation: a historical experiment Stephen Haber 12. The decline of the American inventor: a Schumpeterian story? Naomi R. Lamoreaux and Ken Sokoloff Part IV. Perspectives on the University Innovation: 13. University software: patents, open source, and commercialization John R. Allison, Arti K. Rai and Bhaven Sampat 14. The impact of the Bayh-Dole Act on genetic research and development: evaluating the arguments and empirical research to date Charles R. McManis and Sucheol Noh 15. Patents, material transfers and access to research inputs in biomedical research Wesley M. Cohen, John P. Walsh and Charlene Cho 16. Are universities the new patent trolls? Mark Lemley Part V. Perspectives on International Considerations: 17. Successful factors for commercializing the results of research and development in emerging economies - a preliminary study of ITRI in Taiwan Paul C. B. Liu, Kuang-Wei Chueh and Mong-Yao Ker 18. Commercializing university research: beyond economic incentives Richard Gold.

Perspectives on Commercializing Innovation: Index

Part I. Perspectives on Theories of Intellectual Property: 1. Intellectual property and the theory of the firm Daniel F. Spulber 2. A transactional view of property rights Robert P. Merges 3. The modularity of patent law Henry E. Smith 4. Forging a new environmental and resource economics paradigm: the contractual bases for exchange Terry L. Anderson and Gary D. Libecap 5. Commercializing the public domain Michael B. Abramowicz Part II. Perspectives on the Problems of Anticommons and Patent Thickets: 6. A private ordering solution to the public problems of anticommons F. Scott Kieff and Troy A. Paredes 7. Understanding the RAND commitment Douglas Lichtman 8. Embryonic inventions and embryonic patents: prospects, prophecies, and pedis possessio John F. Duffy 9. Innovation and its discontents Adam B. Jaffe and Josh Lerner Part III. Perspectives on Finance and Commercialization: 10. Patents as options Shaun Martin and Frank Partnoy 11. Access to finance and the technological innovation: a historical experiment Stephen Haber 12. The decline of the American inventor: a Schumpeterian story? Naomi R. Lamoreaux and Ken Sokoloff Part IV. Perspectives on the University Innovation: 13. University software: patents, open source, and commercialization John R. Allison, Arti K. Rai and Bhaven Sampat 14. The impact of the Bayh-Dole Act on genetic research and development: evaluating the arguments and empirical research to date Charles R. McManis and Sucheol Noh 15. Patents, material transfers and access to research inputs in biomedical research Wesley M. Cohen, John P. Walsh and Charlene Cho 16. Are universities the new patent trolls? Mark Lemley Part V. Perspectives on International Considerations: 17. Successful factors for commercializing the results of research and development in emerging economies - a preliminary study of ITRI in Taiwan Paul C. B. Liu, Kuang-Wei Chueh and Mong-Yao Ker 18. Commercializing university research: beyond economic incentives Richard Gold.

Perspectives on Commercializing Innovation: Perspectives on the Problems of Anticommons and Patent Thickets

Part I. Perspectives on Theories of Intellectual Property: 1. Intellectual property and the theory of the firm Daniel F. Spulber 2. A transactional view of property rights Robert P. Merges 3. The modularity of patent law Henry E. Smith 4. Forging a new environmental and resource economics paradigm: the contractual bases for exchange Terry L. Anderson and Gary D. Libecap 5. Commercializing the public domain Michael B. Abramowicz Part II. Perspectives on the Problems of Anticommons and Patent Thickets: 6. A private ordering solution to the public problems of anticommons F. Scott Kieff and Troy A. Paredes 7. Understanding the RAND commitment Douglas Lichtman 8. Embryonic inventions and embryonic patents: prospects, prophecies, and pedis possessio John F. Duffy 9. Innovation and its discontents Adam B. Jaffe and Josh Lerner Part III. Perspectives on Finance and Commercialization: 10. Patents as options Shaun Martin and Frank Partnoy 11. Access to finance and the technological innovation: a historical experiment Stephen Haber 12. The decline of the American inventor: a Schumpeterian story? Naomi R. Lamoreaux and Ken Sokoloff Part IV. Perspectives on the University Innovation: 13. University software: patents, open source, and commercialization John R. Allison, Arti K. Rai and Bhaven Sampat 14. The impact of the Bayh-Dole Act on genetic research and development: evaluating the arguments and empirical research to date Charles R. McManis and Sucheol Noh 15. Patents, material transfers and access to research inputs in biomedical research Wesley M. Cohen, John P. Walsh and Charlene Cho 16. Are universities the new patent trolls? Mark Lemley Part V. Perspectives on International Considerations: 17. Successful factors for commercializing the results of research and development in emerging economies - a preliminary study of ITRI in Taiwan Paul C. B. Liu, Kuang-Wei Chueh and Mong-Yao Ker 18. Commercializing university research: beyond economic incentives Richard Gold.

Perspectives on Commercializing Innovation: Perspectives on Theories of Intellectual Property

Part I. Perspectives on Theories of Intellectual Property: 1. Intellectual property and the theory of the firm Daniel F. Spulber 2. A transactional view of property rights Robert P. Merges 3. The modularity of patent law Henry E. Smith 4. Forging a new environmental and resource economics paradigm: the contractual bases for exchange Terry L. Anderson and Gary D. Libecap 5. Commercializing the public domain Michael B. Abramowicz Part II. Perspectives on the Problems of Anticommons and Patent Thickets: 6. A private ordering solution to the public problems of anticommons F. Scott Kieff and Troy A. Paredes 7. Understanding the RAND commitment Douglas Lichtman 8. Embryonic inventions and embryonic patents: prospects, prophecies, and pedis possessio John F. Duffy 9. Innovation and its discontents Adam B. Jaffe and Josh Lerner Part III. Perspectives on Finance and Commercialization: 10. Patents as options Shaun Martin and Frank Partnoy 11. Access to finance and the technological innovation: a historical experiment Stephen Haber 12. The decline of the American inventor: a Schumpeterian story? Naomi R. Lamoreaux and Ken Sokoloff Part IV. Perspectives on the University Innovation: 13. University software: patents, open source, and commercialization John R. Allison, Arti K. Rai and Bhaven Sampat 14. The impact of the Bayh-Dole Act on genetic research and development: evaluating the arguments and empirical research to date Charles R. McManis and Sucheol Noh 15. Patents, material transfers and access to research inputs in biomedical research Wesley M. Cohen, John P. Walsh and Charlene Cho 16. Are universities the new patent trolls? Mark Lemley Part V. Perspectives on International Considerations: 17. Successful factors for commercializing the results of research and development in emerging economies - a preliminary study of ITRI in Taiwan Paul C. B. Liu, Kuang-Wei Chueh and Mong-Yao Ker 18. Commercializing university research: beyond economic incentives Richard Gold.

Perspectives on Commercializing Innovation: Perspectives on Finance and Commercialization

Part I. Perspectives on Theories of Intellectual Property: 1. Intellectual property and the theory of the firm Daniel F. Spulber 2. A transactional view of property rights Robert P. Merges 3. The modularity of patent law Henry E. Smith 4. Forging a new environmental and resource economics paradigm: the contractual bases for exchange Terry L. Anderson and Gary D. Libecap 5. Commercializing the public domain Michael B. Abramowicz Part II. Perspectives on the Problems of Anticommons and Patent Thickets: 6. A private ordering solution to the public problems of anticommons F. Scott Kieff and Troy A. Paredes 7. Understanding the RAND commitment Douglas Lichtman 8. Embryonic inventions and embryonic patents: prospects, prophecies, and pedis possessio John F. Duffy 9. Innovation and its discontents Adam B. Jaffe and Josh Lerner Part III. Perspectives on Finance and Commercialization: 10. Patents as options Shaun Martin and Frank Partnoy 11. Access to finance and the technological innovation: a historical experiment Stephen Haber 12. The decline of the American inventor: a Schumpeterian story? Naomi R. Lamoreaux and Ken Sokoloff Part IV. Perspectives on the University Innovation: 13. University software: patents, open source, and commercialization John R. Allison, Arti K. Rai and Bhaven Sampat 14. The impact of the Bayh-Dole Act on genetic research and development: evaluating the arguments and empirical research to date Charles R. McManis and Sucheol Noh 15. Patents, material transfers and access to research inputs in biomedical research Wesley M. Cohen, John P. Walsh and Charlene Cho 16. Are universities the new patent trolls? Mark Lemley Part V. Perspectives on International Considerations: 17. Successful factors for commercializing the results of research and development in emerging economies - a preliminary study of ITRI in Taiwan Paul C. B. Liu, Kuang-Wei Chueh and Mong-Yao Ker 18. Commercializing university research: beyond economic incentives Richard Gold.

Perspectives on Corporate Governance: The CEO and the Board: On CEO Overconfidence and Institutionalizing Dissent in Firms

INTRODUCTION In describing the “effective executive,” Peter Drucker said: Unless one has considered alternatives, one has a closed mind. This, above all, explains why effective decision makers deliberately disregard the second major command of the textbooks on decision making and create dissension and disagreement, rather than consensus. Decisions of the kind the executive has to make are not made well by acclamation. They are made well only if based on the clash of conflicting views, the dialogue between different points of view, the choice between different judgments. The first rule in decision-making is that one does not make a decision unless there is disagreement. He continued: The effective decision-maker … organizes disagreement. This protects him against being taken in by the plausible but false or incomplete. It gives him the alternatives so that he can choose and make a decision, but also so that he is not lost in the fog when his decision proves deficient or wrong in execution. And it forces the imagination – his own and that of his associates. Disagreement converts the plausible into the right and the right into the good decision. Managing a company as CEO is about making decisions. Making decisions is not the hard part. The hard part, as Drucker suggests, is making good decisions and then implementing them successfully. Without question, chief executives make astute, effective decisions routinely but not always. Lots of possibilities explain why bad decisions get made and why even good decisions get implemented poorly.