The Bright Side of Patents

We are grateful to Lauren Cohen, Wesley Cohen, Lee Fleming, Alberto Galasso, Zorina Khan, Josh Lerner, Alan Marco, Ramana Nanda, Bhaven Sampat, Ted Sichelman, Scott Stern, Rick Townsend, Rosemarie Ziedonis, and audiences at the NBER Productivity Lunch Seminar, the Center for the Protection of Intellectual Property at George Mason University, University of Minnesota, University Carlos III (Madrid), Singapore Management University, Nanyang Technological University, National University of Singapore, and Hong Kong University for helpful comments. We also thank the Institute for Exceptional Growth Companies for granting access to the NETS database. Hegde gratefully acknowledges the support of the United States Patent and Trademark Office’s Thomas Alva Edison Visiting Scholars program and the Kauffman Junior Faculty Fellowship. The views and comments expressed herein are solely the opinion of the authors, do not reflect the performance of duties in the authors’ official capacities, and are not endorsed by, nor should be construed as, any viewpoint official or unofficial of the United States Patent and Trademark Office or of the National Bureau of Economic Research. The authors confirm to the best of their knowledge that no information contained herein is privileged, confidential or classified.