Searle Center on Law, Regulation, and Economic Growth Fifth Annual Conference on Innovation and Entrepreneurship: U.S. Patent and Trademark Office (USPTO)-Ewing Marion Kauffman Foundation Conference on Intellectual Property and Entrepreneurship

Thursday, June 14, 2012-Friday, June 15, 2012

Northwestern University School of Law
Rubloff Building Room #175
375 E. Chicago Avenue, Chicago, IL

The Searle Center on Law, Regulation, and Economic Growth presents the Fifth Annual Conference on Innovation and Entrepreneurship: U.S. Patent and Trademark Office (USPTO)-Ewing Marion Kauffman Foundation Conference on Intellectual Property and Entrepreneurship to be held at Northwestern University School of Law, Thursday, June 14, 2012-Friday, June 15, 2012. The conference will run from 9:00 a.m. on Thursday, June 14 to 3:15 p.m. on Friday, June 15. There will be a keynote address by James E. Malackowski, Chairman and CEO of Ocean Tomo, LLC, on Thursday afternoon. On Thursday evening, there will be a cocktail reception, dinner, and keynote address by Stuart Graham, Chief Economist, USPTO.

The USPTO and the Ewing Marion Kauffman Foundation are jointly sponsoring the conference. This conference is organized by Professor Daniel F. Spulber, Research Director of the Searle Center on Law, Regulation, and Economic Growth and Elinor Hobbs Distinguished Professor of International Business, Professor of Management Strategy, Kellogg School of Management, Professor of Law, Northwestern University School of Law (Courtesy), and Stuart Graham, Chief Economist, USPTO, and Georgia Tech College of Management.

OVERVIEW: The goal of this conference is to provide a forum where economists and legal scholars can gather together with Northwestern's own distinguished faculty to present and discuss high-quality research relevant to intellectual property (IP) protection, innovation, and entrepreneurship.

This conference will be an important component of the Searle Center's expanded entrepreneurship and innovation focus. Conference participants will explore the connections between IP, innovation, and entrepreneurship through empirical and theoretical economic and legal analysis. This interdisciplinary conference will be composed of presentations by leading researchers in economics and law, and participating authors will have their papers formally discussed by leading thinkers in the field. In addition, the conference will draw audiences of academics in economics, law, and business, as well as legal and business practitioners, government officials, and public policy makers.

REGISTRATION: Attendance for this conference is by invitation only. To receive an invitation, please send a message with your name, affiliation, and full contact information to Derek Gundersen at: d-gundersen@law.northwestern.edu

AGENDA:


Thursday, June 14

9:00 a.m. Registration and Continental Breakfast (Atrium)


10:00 Welcome (RB 175)
Introduction to the Conference
Max Schanzenbach, Director, Searle Center on Law, Regulation, and Economic Growth, and Professor of Law, Northwestern University School of Law
Daniel F. Spulber, Research Director, Searle Center on Law, Regulation, and Economic Growth, and Kellogg School of Management, Northwestern University
Stuart Graham, Chief Economist for the United States Patent and Trademark Office (USPTO)

10:10-12:10 Session One-Licensing and Markets for IP
Session Chair: F. Scott Kieff, George Washington University

Trading and Enforcing Patent Rights
Alberto Galasso*, University of Toronto
Mark Schankerman, London School of Economics
Carlos J. Serrano, University of Toronto
Discussant: Annika Lorenz, Technische Universitat Berlin

Patent Pools and Licensing Strategies Evidence from U.S. Industries under the New Deal
Ryan Lampe*, DePaul University
Petra Moser, Stanford University
Discussant: Annika Lorenz, Technische Universitat Berlin

Intermediaries for the IP Market
Andrei Hagiu*, Harvard University
David Yoffie, Harvard University
Discussant: Marcus Berliant, Washington University

How to License a Technology Standard?
Chun-Hui Miao, University of South Carolina
Discussant: Marcus Berliant, Washington University

12:10 Lunch (Atrium)

12:45 Keynote Address
James E. Malackowski, Chairman and CEO of Ocean Tomo, LLC

1:30-3:30 Session Two-IP and Commercialization of Inventions
Session Chair: Stuart Graham, United States Patent and Trademark Office

Adverse Effects of Patent Pooling on Product Development and Commercialization
Thomas D. Jeitschko, U.S. Department of Justice
Nanyun Zhang, Towson University
Discussant: Junjie Zhou, University of California, Berkeley

Innovation Beyond Patents: Technological Complexity as a Protection against Imitation
Emeric Henry, Sciences Po Paris
Francisco Ruiz-Aliseda*, Ecole Polytechnique
Discussant: Junjie Zhou, University of California, Berkeley

Determinants of the Quality and Price of Innovative Industrial Products: Evidence from the Disk Drive Industry
James D. Adams, Rensselaer Polytechnic Institute
Discussant: Reiko Aoki, Hitotsubashi University

Contingency Without Moral Hazard: A Theory of Intellectual Property Contracts and Evidence from Screenplay Sales
Milton Harris, University of Chicago
S. Abraham (Avri) Ravid*, Yeshiva University
Suman Basuroy, University of Oklahoma
Discussant: Reiko Aoki, Hitotsubashi University

3:30-3:45 Break

3:45-5:45 Session Three-Patents and Sequential R&D
Session Chair: Richard A. Jensen, University of Notre Dame

Patent Pools and the Dynamic Incentives to R&D
Vianney Dequiedt, Universite d'Auvergne
Bruno Versaevel*, EMLYON Business School
Discussant: Joaquin Poblete, London School of Economics

Sequential Innovation and Optimal Patent Design
Christian Riis*, Norwegian Business School
Xianwen Shi, University of Toronto
Discussant: Joaquin Poblete, London School of Economics

Inventing-around Edison's Incandescent Lamp Patent: Evidence of the Role of Patents in Stimulating Downstream Development
Ron D. Katznelson*, Bi-Level Technologies
John Howells, Aarhus University
Discussant: Theresa Helena Veer, Technische Universitat Berlin

Are Licensing Agreements Appropriate Instruments to Cut Through the Patent Thicket?
Ralph Siebert*, Purdue University
Georg von Graevenitz, University of Munich
Discussant: Theresa Helena Veer, Technische Universitat Berlin

5:45-6:45 Cocktail Reception (Courtyard, weather depending)

6:45 Dinner (Atrium)

7:30 Keynote Address
Stuart Graham, United States Patent and Trademark Office

Friday, June 15

8:00 a.m. Breakfast (Atrium)

8:30 Dean's Welcome
Daniel B. Rodriguez, Dean and Harold Washington Professor, Northwestern University School of Law

8:30-10:30 Session Four-How Organizations Affect Innovation
Session Chair: Leora Klapper, World Bank

Firm Size Diversity and Regional Innovation
Ajay Agrawal, University of Toronto
Iain Cockburn, Boston University
Alberto Galasso, University of Toronto
Alex Oettl*, Georgia Institute of Technology
Discussant: Carlo Menon, STI Directorate, OECD & Bank of Italy

Ownership Structure of Vertical Research Collaboration: Empirical Analysis from an Incomplete Contract Perspective
Sadao Nagaoka, Hitotsubashi University
Discussant: Carlo Menon, STI Directorate, OECD & Bank of Italy

Subsidiary Entities and the Innovator's Dilemma
Kenneth Ayotte, Northwestern University School of Law
Discussant: David L. Schwartz, Chicago-Kent College of Law

State Governments as Financiers of Technology Startups: Implications for Firm Performance
Rosemarie Ziedonis, University of Oregon
Bo Zhao, University of Michigan
Discussant: David L. Schwartz, Chicago-Kent College of Law

10:30-10:45 Break

10:45-12:15 Session Five-Human Capital and Innovation
Session Chair: John Howells, Aarhus University

Who Are User Entrepreneurs? Findings on Innovation, Founder Characteristics & Firm Characteristics
Sonali K. Shah, University of Washington
Sheryl Winston Smith, Temple University
E. J. Reedy*, Ewing Marion Kauffman Foundation
Discussant: Minyuan Zhao, University of Michigan

The Long-term Impact of Business Cycles on Innovation: Evidence from the Massachusetts Institute of Technology
Pian Shu, Massachusetts Institute of Technology
Discussant: Minyuan Zhao, University of Michigan

The Role of Information in Competitive Experimentation
Ufuk Akcigit, University of Pennsylvania
Qingmin Liu*, Columbia University and University of Pennsylvania
Discussant: Illoong Kwon, Seoul National University

The Impact of Universities on Local Economic Development: The Growth of the Early PC Software Industry
Thomas Astebro, HEC Paris
Tom Cottrell*, University of Calgary
Discussant: Illoong Kwon, Seoul National University

12:15 Lunch (Atrium)

1:15-3:15 Session Six-How Financing Affects Innovation
Session Chair: Kenneth Ayotte, Northwestern University School of Law

Venture Capital and the Diffusion of Knowledge
Juanita Gonzalez-Uribe, Columbia University
Discussant: Gae tan de Rassenfosse, The University of Melbourne

Does Going Public Affect Innovation?
Shai Bernstein, Harvard University
Discussant: Gaetan de Rassenfosse, The University of Melbourne

Credit Supply and Corporate Innovations
Mario Daniele Amore*, Copenhagen Business School
Cedric Schneider, Copenhagen Business School
Alminas Zaldokas, INSEAD
Discussant: S. Abraham (Avri) Ravid, Yeshiva University

The Dark Side of Analyst Coverage: The Case of Innovation
Jie (Jack) He, University of Georgia
Xuan Tian, Indiana University
Discussant: S. Abraham (Avri) Ravid, Yeshiva University

3:15 Adjourn

Presenters are indicated with an *

FURTHER INFORMATION: For more information regarding this conference or other initiatives of the Searle Center, please visit http://www.law.northwestern.edu/searlecenter, call (312) 503-1811, or send an email to searlecenter@law.northwestern.edu

The Searle Center on Law, Regulation, and Economic Growth at Northwestern University School of Law was established in 2006 to research how government regulation and interpretation of laws and regulations by the courts affect business and economic growth. Information on the Searle Center's activities may be found at: http://www.law.northwestern.edu/searlecenter