Open standard-setting organizations (SSOs) have emerged as important coordination and
diffusion mechanism for information and communication technologies. Open standards are
developed non-discriminatorily and licensed to anybody at reasonable and non-discriminatory
terms. Little is known about the value of IP contributions to open standards for technology
providers. This paper provides a large-scale empirical assessment thereof. Our findings show
that disclosure of standard-relevant IP ownership is valued positively by financial markets
only if the disclosure refers explicitly to associated patents. The loss of exclusivity to IPR
appears to be outweighed by the expected benefits from open standards. Patents appear to
signal the technological quality of IP contributions from firms with low R&D intensities.
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