Seminar  |  06/10/2015 | 12:00 PM  –  01:30 PM

Brown Bag Seminar: Patent Thickets

Bronwyn Hall (University of California, Berkeley)

Presentation  |  06/09/2015, 06:00 PM

Unregistered Intellectual Property Rights and 3D printing

6:00 - 7:30 p.m., Michael Häfeli, Max Planck Institute for Innovation and Competition, Munich, Room E10

Presentation  |  06/08/2015, 06:00 PM

MIPLC Lecture Series: Governing Knowledge Commons

6:00 - 7:30 p.m., Prof. Michael Madison, Max Planck Institute for Innovation and Competition, Munich, Room E10

Presentation  |  05/20/2015, 06:00 PM

MIPLC Lecture Series: After the America Invents Act – The State of US Patent Infringement Litigation

6:00 - 7:30 p.m., Sarah Columbia, Max Planck Institute for Innovation and Competition, Munich, Room E10

Competition Law Series  |  05/18/2015, 07:00 PM

EU-Fusionskontrolle für Minderheitsbeteiligungen?

7:00 - 8:30 p.m., Dr. Frank Montag, Max Planck Institute for Innovation and Competition, Munich, Room E10

Seminar  |  05/12/2015, 06:00 PM

Institute Seminar: Green Technology Patenting in the Refrigerant Gas Sector and the Climate Change Politics in Europe

6:00 - 7:30 p.m., Sujitha Subramanian, Max Planck Institute for Innovation and Competition, Munich, Room E10

Institutsseminar: Sujitha Subramanian speaks about "Green Technology Patenting in the Refrigerant Gas Sector and the Climate Change Politics in Europe".

Patent Law Series  |  03/13/2015, 01:30 PM

Geht im Patentrecht wirklich alles mit gerechten Dingen zu?

1:30 - 3:00 p.m., Prof. Dr. Christian Osterrieth, Max Planck Institute for Innovation and Competition, Munich

Presentation  |  03/10/2015, 01:30 PM

Institute Seminar

1:30 - 3:00 p.m., Lisa Heinzmann, Max Planck Institute for Innovation and Competition, Munich

Presentation  |  03/05/2015, 07:30 AM

Patent Collateral, Investor Commitment, and the Market for Venture Lending

7:30 - 9:00 p.m., Max Planck Institute for Innovation and Competition, Munich

Seminar  |  03/04/2015 | 12:00 PM  –  01:30 PM

Brown Bag Seminar: Patent Collateral, Investor Commitment, and the Market for Venture Lending

Carlos Serrano (Universitat Pompeu Fabra, Department of Economics and Business Economics)

The use of debt to finance risky entrepreneurial-firm projects is rife with informational and contracting problems. Nonetheless, we document widespread lending to startups in three innovation-intensive sectors and in early stages of development. At odds with claims that the secondary patent market is too illiquid to shape debt financing, we find that intensified patent trading increases the annual rate of startup lending, particularly for startups with more redeployable (less firm-specific) patent assets. Exploiting differences in venture capital (VC) fundraising cycles and a negative capital-supply shock in early 2000, we also find that the credibility of VC commitments to refinance and grow fledgling companies is vital for such lending. Our study illuminates friction-reducing mechanisms in the market for venture lending, a surprisingly active but opaque arena for innovation financing, and tests central tenets of contract theory.