Early patent disclosure and R&D investment in family firms


Hussinger, Katrin ; Issah, Wunnam


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URN: urn:nbn:de:bsz:180-madoc-662553
Document Type: Working paper
Year of publication: 2023
The title of a journal, publication series: ZEW Discussion Papers
Volume: 23-044
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 , M14 , O34,
Keywords (English): R&D investments , AIPA , family firms , socio-emotional wealth (SEW)
Abstract: This paper shows that the American Inventor's Protection Act, which introduced the disclosure of patent applications after 18 months, i.e. before a grant decision is taken and, hence, before it is known whether the respective technology receives legal protection, is associated with a reduction of family firms' research and development (R&D) investment. This suggests that early disclosure of patent applications is perceived as a threat to family firms' innovation activity and discourages their R&D investment. This finding deserves our attention because family firms account for a large share of the U.S. economy and a reduction of their R&D investment can have long-term consequences.




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