Unformatted text preview: hts reserved. Intro History Patents IP Solutions
- Inventors become entrepreneurs.
Inventors traded on their reputations to hop from one start-up to the next.
They structured venture capital deals based on a mix of private stock
o¤erings, joint ventures, revenue sharing & stock options. - Inventors turn the activity of invention into a business in its own right.
e.g. "invention factory" (1870s) followed a variety of business methods:
consulting, participating in joint ventures, selling patents etc
This mix of strategies was key to managing risk. Lecture 2: Institutions, Econ483: Econ of Innovation & Technology, Evangelia Chalioti c A ll rights reserved. Intro History Patents IP Solutions
- Innovations are developed in-house.
modern industrial laboratories; e.g. General Electric (1900), AT&T (1908),
Goodyear (1909), Eastman Kodak (1912)
most of the new laboratories in the electrical & chemical industries; e.g.
AT&T’ Bell labs, IBM, PARC
s Lecture 2: Institutions, Econ483: Econ of Innovation & Technology, Evangelia...
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- Spring '08
- Economics, Econ of Innovation & Technology