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Thursby, Marie C.

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An integrated approach to technological innovation

2010 , Thursby, Marie C. , Smith, Anderson D. , Blum, Terry C. , Wepfer, William J.

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The Disclosure and Licensing of University Inventions

2003-05-12 , Jensen, Richard A. , Thursby, Jerry G. , Thursby, Marie C.

We examine the interplay of the three major university actors in technology transfer from universities to industry: the faculty, the technology transfer office (TTO), and the central administration. We model the faculty as an agent of the administration, and the TTO as an agent of both the faculty and the administration. Empirical tests of the theory are based on evidence from our survey of 62 US research universities. We find that the TTOs reported licensing objectives are influenced by their views of faculty and administration, which supports the assumption that the TTO is a dual agent. The theory yields predictions for whether or not faculty disclose inventions and if so, at what stage, which in turn affects license contract terms. We also examine how the portion of inventions disclosed at different stages varies with faculty quality. Quality is found to be inversely related to the share of license income allotted to faculty.

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Implications of a Multi-Disciplinary Educational and Research Environment: Perspectives of Future Business, Law, Science, and Engineering Professionals

2004 , Sager, Benay , Fernández, Marco Gero , Thursby, Marie C.

Functioning well in a global, technology-driven, multi-disciplinary environment necessitates a more robust educational paradigm in science and engineering. For a technical education to be complete, it is no longer enough to train scientists and engineers solely in technical areas. There are clear shortcomings in academic curricula that need to be addressed in order to bring about this required paradigm shift. Much the same is true for students of law and business, who will have to understand many of the technological underpinnings and corresponding implications to impart their perspectives. While it is true that multi-disciplinary education and innovation programs are starting to surface, the question of “how the participants’ experiences will influence future career plans and personal goals’ is largely unanswered. Our focus in this paper is the importance of understanding social, economic, and legal aspects of science and engineering within the context of graduate-level education. Specifically, the authors take a closer look at the TI:GER (Technological Innovation: Generating Economic Results) program from the participants’ perspective. TI:GER is a multi-disciplinary program between Georgia Institute of Technology and Emory University, focused on integrating science, engineering, business, and law for the commercialization of innovations in the global marketplace. Based on their experiences, the authors present their learning and insight on multi-disciplinary education in a mixed technical and professional degree setting.

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Patterns of Research and Licensing Activity of Science and Engineering Faculty

2003-04 , Thursby, Jerry G. , Thursby, Marie C.

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Shirking, Shelving and Sharing Risk: The Role of University License Contracts

2004 , Thursby, Marie C. , Thursby, Jerry G. , Dechenaux, Emmanuel

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Appropriability and the timing of innovation: Evidence from MIT inventions

2003-04 , Dechenaux, Emmanuel , Goldfarb, Brent , Shane, Scott A. , Thursby, Marie C.

At least since Arrow (1962), economists have believed that strong property rights are necessary for firms to invest in innovation. This belief was a key principle underlying the Bayh-Dole Act, which gave universities the right to own and license federally funded inventions, because the commercialization of university inventions requires private firm investment in development, given the early stage of these inventions at the time that they are licensed. However, surprisingly little research has examined this key principle. In this paper, we exploit a database of 805 attempts by private firms to commercialize inventions licensed exclusively from MIT between 1980 and 1996 to address this issue. The data allow us to examine the timing of subsequent commercialization or termination of the licenses to these inventions as a function of the length of patent protection, as well as other measures of appropriability. We model the firm’s investment decision as an optimal stopping problem, and we characterize the hazard rates of first sale and termination over time. In both the theory and the empirical analysis, we find two opposing effects of time. The length of patent protection provides an incentive for the firm to invest that declines with time; while the probability of technical success increases in each period that the firm invests. Competing risks models to predict the resulting hazards of first sale and termination reveal that, for these data, the hazard of first sale has an inverted u-shape and the hazard of termination has a u-shape. We find that increased appropriability, as measured by Lerner’s index of patent scope and effectiveness of patents in a line of business, decrease the hazard of termination and increase the hazard of first sale.

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