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**TeksPaisimi** · 08-20-2009, 11:44 PM

a) This isn't what Jon was talking about

Jon was talking about higher risk-aversion of smaller organizations (dollar for dollar). Not the difference in risk-neutral valuations between the two organizations

Yes, but my point was that they also have different risk-neutral valuations.

b) I don't see that it's obvious from an overall efficiency point of view that we want a large company holding a patent rather than a small company, ceteris parebus. The small company might be more inclined to widely license its patent, for example

If the smaller company were inclined to license its patent then it would be perfectly happy to sell to the government, because its expected license revenues would be a floor on whatever bids it got for the patent.

c) Most of the time we DON'T WANT people holding patents. Patents suck. That's the whole idea.... Yes, but IF someone is going to hold a patent, we want them to be as large as possible so their patent is combinable with as many other patents as possible.

08-20-2009, 11:44 PM	#27
TeksPaisimi Join Date Oct 2005 Posts 433 Senior Member	a) This isn't what Jon was talking about Jon was talking about higher risk-aversion of smaller organizations (dollar for dollar). Not the difference in risk-neutral valuations between the two organizations Yes, but my point was that they also have different risk-neutral valuations. b) I don't see that it's obvious from an overall efficiency point of view that we want a large company holding a patent rather than a small company, ceteris parebus. The small company might be more inclined to widely license its patent, for example If the smaller company were inclined to license its patent then it would be perfectly happy to sell to the government, because its expected license revenues would be a floor on whatever bids it got for the patent. c) Most of the time we DON'T WANT people holding patents. Patents suck. That's the whole idea.... Yes, but IF someone is going to hold a patent, we want them to be as large as possible so their patent is combinable with as many other patents as possible.
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