Workshop’s Topic: Markets for technology are riddled with a high degree of uncertainty and economic agents within and outside a firm may have different resources and preferences influencing a firm’s likelihood to participate in such markets. We consider how corporate venture capitalists (CVCs) influence a startup’s participation in the markets for technology by selling its patents. We find that, compared with startups backed solely by independent venture capitalists (IVCs), those backed by corporate venture capitalists(CVCs) are less likely to sell their patents. We consider various factors, including complementary assets provided by corporate investors, competitive dynamics between corporate investors and startups, and patent specificity and external citations to explore the theoretical mechanisms of how corporate investors influence a startup’s likelihood of selling its patents. Our results provide novel insights into how the resources and preferences of corporate investors can play important roles in a startup’s intellectual property (IP) management strategy.

Time and Location: 10:00 AM (GMT+8), Room A823 (School of Management)

Language: English