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The economic impact of licensed commercialized inventions originating in university research

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  • Roessner, David
  • Bond, Jennifer
  • Okubo, Sumiye
  • Planting, Mark

Abstract

The purpose of this article is to estimate quantitatively the contribution that university licensing makes to the national U.S. economy. As regions and nations face increased economic problems, they seek ways to augment opportunities for economic growth and to identify areas where public funding can be cut. It is now well-recognized that the research university can be a significant engine of economic growth and job creation. University research and research-related activities contribute in many important ways to modern economies: notably through increased productivity of applied R&D in industry due to university-developed new knowledge and technical know-how; provision of highly valued human capital embodied in faculty and students; development of equipment and instrumentation used by industry in production and research; and creation of concepts and prototypes for new products and processes, which may have some unexpected and large social and economic impacts. Yet clear documentation of the proportional contributions these make to economic growth remains elusive. This article provides detailed estimates of the economic impact on the U.S. national economy of one core university activity – licensing of university inventions to industry.

Suggested Citation

  • Roessner, David & Bond, Jennifer & Okubo, Sumiye & Planting, Mark, 2013. "The economic impact of licensed commercialized inventions originating in university research," Research Policy, Elsevier, vol. 42(1), pages 23-34.
    • Handle: RePEc:eee:respol:v:42:y:2013:i:1:p:23-34
    DOI: 10.1016/j.respol.2012.04.015
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    1. V.G.R. Chandran & Mohammad Nourani & Sonia Kumari Selvarajan & Angathevar Baskaran, 2021. "Selective research funding policy and catching up the ladder in university research performance in Malaysia," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 42(3), pages 539-550, April.
    2. Gabriela Sarabia-Altamirano & Julio Martínez-Burnes & José A. Ramírez-de León, 2024. "Knowledge and Technology Transfer Channels Used by the Academy: Evidence from Mexico," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 15(1), pages 63-87, March.
    3. Beck, Mathias & Junge, Martin & Kaiser, Ulrich, 2017. "Public Funding and Corporate Innovation," IZA Discussion Papers 11196, Institute of Labor Economics (IZA).
    4. Mauleon, Ana & Sempere-Monerris, Jose J. & Vannetelbosch, Vincent, 2023. "R&D network formation with myopic and farsighted firms," Journal of Economic Behavior & Organization, Elsevier, vol. 208(C), pages 203-229.
    5. Bozeman, Barry & Rimes, Heather & Youtie, Jan, 2015. "The evolving state-of-the-art in technology transfer research: Revisiting the contingent effectiveness model," Research Policy, Elsevier, vol. 44(1), pages 34-49.
    6. John M. Foster & Jacob Fowles, 2018. "Ethnic Heterogeneity, Group Affinity, and State Higher Education Spending," Research in Higher Education, Springer;Association for Institutional Research, vol. 59(1), pages 1-28, February.
    7. Öcalan-Özel, Sıla & Pénin, Julien, 2019. "Invention characteristics and the degree of exclusivity of university licenses: The case of two leading French research universities," Research Policy, Elsevier, vol. 48(6), pages 1445-1457.
    8. Weiwei Deng & Jian Ma, 2022. "A knowledge graph approach for recommending patents to companies," Electronic Commerce Research, Springer, vol. 22(4), pages 1435-1466, December.
    9. Ruoying Zhou & Ning Baines, 2024. "To what extent do universities’ formal and informal knowledge exchange activities interact: evidence from UK HE-BCI survey," The Journal of Technology Transfer, Springer, vol. 49(4), pages 1145-1175, August.
    10. Guerrero, Maribel & Cunningham, James A. & Urbano, David, 2015. "Economic impact of entrepreneurial universities’ activities: An exploratory study of the United Kingdom," Research Policy, Elsevier, vol. 44(3), pages 748-764.
    11. Zoljargal Dembereldorj & Garmaa Dangaasuren & Davaa Jagdag, 2018. "Relationships between University Performances and Economic Growth," International Journal of Higher Education, Sciedu Press, vol. 7(4), pages 123-123, August.
    12. Bharat Rao & Bala Mulloth, 2017. "The Role of Universities in Encouraging Growth of Technology-Based New Ventures," International Journal of Innovation and Technology Management (IJITM), World Scientific Publishing Co. Pte. Ltd., vol. 14(04), pages 1-22, August.
    13. Meschnig, Annika & Dubiel, Anna, 2023. "From formation to performance outcomes: A review and agenda for licensing research," Journal of Business Research, Elsevier, vol. 167(C).
    14. Baglieri, Daniela & Baldi, Francesco & Tucci, Christopher L., 2018. "University technology transfer office business models: One size does not fit all," Technovation, Elsevier, vol. 76, pages 51-63.
    15. Mendi, Pedro & Moner-Colonques, Rafael & Sempere-Monerris, José J., 2020. "Cooperation for innovation and technology licensing: Empirical evidence from Spain," Technological Forecasting and Social Change, Elsevier, vol. 154(C).
    16. Tommaso Pucci, 2016. "Academic entrepreneurial orientation. Empirical evidence from life sciences," World Review of Entrepreneurship, Management and Sustainable Development, Inderscience Enterprises Ltd, vol. 12(2/3), pages 193-217.

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