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Putting patents in context: Exploring knowledge transfer from MIT. Management Science, 48(1), 44–60. 1108/S0742-3322(2009)0000026033 13 14 AJAY K. AGRAWAL AND REBECCA HENDERSON research impact. We close by speculating on the implications of our results for the difﬁcult but important question of whether, in this setting, patenting acts as a substitute or a complement to the process of fundamental research. 1. INTRODUCTION While there is a widespread belief that publicly funded research conducted at universities has a signiﬁcant impact on the rate of economic growth, estimating the magnitude and describing the nature of this impact remains extremely difﬁcult.
At a minimum, if researchers face binding budget constraints on their time (and all they do otherwise is publish), then efforts used in patenting are necessarily taken away from publishing. Perhaps of even greater concern is the possibility that Transaction Costs in Technology Transfer and Implications for Strategy 9 researchers who might have otherwise worked on topics of a more fundamental nature, which the private sector does not address due to appropriability problems, are drawn toward more applied topics they can patent for personal pecuniary gain.
I wouldn’t have even bothered to patent most of these things that are on your list. Most of those were patented by scientists from Japanese ﬁrms who were visiting my lab for 6, or 12, or 18 months. That’s why I am listed as a coinventor. They ﬁle these patents to show their companies that they are doing work here, but I don’t think they really intend to do anything with them. I certainly haven’t received a penny from any of these patents. (EECS professor, interview, February 17,1999) You can’t just look at the patents.