Abstract
Academic Entrepreneurs Curtailing academic inventors' rights to reap all benefits from their inventions and businesses—instead granting two-thirds of the rights to their university—can undermine university-based entrepreneurship and patenting. Hvide and Jones show that after Norway ended the so-called “professor's privilege” in 2003, the rate of university-based start-up company formation dropped by roughly 50%, and those start-ups exhibited less growth. The policy change, which moved Norway toward a U.S. Bayh-Dole model, also led to a roughly 50% drop in patenting, and the resulting patents received fewer citations. Amer. Econ. Rev. 10.1257/aer.20160284 (2018).
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