Text

Bankrupt Innovative Firms

We study how innovative firms manage their innovation portfolios after filing for Chapter 11 reorganization using three decades of data. We find that they sell off core (i.e., technologically critical and valuable), rather than peripheral, patents in bankruptcy. The selling pattern is driven almost entirely by firms with greater use of secured debt, and the mechanism is secured creditors exercising their control rights on collateralized patents. Creditor-driven patent sales in bankruptcy have implications for technology diffusion—the sold patents diffuse more slowly under new ownership and are more likely to be purchased by patent trolls.

Ketersediaan

Informasi Detail

Judul Seri

MANAGEMENT SCIENCE; Vol.68 No.9 September 2022

No. Panggil

-

Penerbit

: .,

Deskripsi Fisik

p. 6971-6992

Bahasa

English

ISBN/ISSN

-

Klasifikasi

NONE

Tipe Isi

-

Tipe Media

-

Tipe Pembawa

-

Edisi

-

Subjek

INNOVATION
BANKCRUPTCY
PATENT COLLATERAL
SECURED DEBT
CREDITOR RIGHTS

Info Detail Spesifik

https://doi.org/10.1287/mnsc.2021.4141

Pernyataan Tanggungjawab

Song Ma, Joy Tianjiao Tong, Wei Wang

Versi lain/terkait

Lampiran Berkas

Komentar