The value of disclosing IPR to open standard setting organizations

Hussinger, Katrin ; Schwiebacher, Franz

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URN: urn:nbn:de:bsz:180-madoc-346220
Document Type: Working paper
Year of publication: 2013
The title of a journal, publication series: ZEW Discussion Papers
Volume: 13-060
Place of publication: Mannheim
Publication language: English
Institution: Sonstige Einrichtungen > ZEW - Leibniz-Zentrum für Europäische Wirtschaftsforschung
MADOC publication series: Veröffentlichungen des ZEW (Leibniz-Zentrum für Europäische Wirtschaftsforschung) > ZEW Discussion Papers
Subject: 330 Economics
Classification: JEL: O32 , O34 , L15,
Keywords (English): Open standards , IP disclosures , market value
Abstract: 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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