|Budget Amount *help
¥3,500,000 (Direct Cost: ¥3,500,000)
Fiscal Year 2002: ¥1,700,000 (Direct Cost: ¥1,700,000)
Fiscal Year 2001: ¥1,800,000 (Direct Cost: ¥1,800,000)
This research investigates R&D and intellectual property right. First, I study patent infringement suits at United States International Trade Commission (USITC). The US Section 337 of the Tariff Act regulates "administrative suit" on patent infringement. Unlike ordinary patent suits, it deals with infringement made by imported goods. Because the Section 337 suits is governed by special procedures, it has a strong enforcement power. I estimate the change of corporate value associated with the Section 337 suits. Several stylized facts are found. For example, a complaint (allegedly infringed) usually increases its value significantly at the expense of respondents (allegedly infringer). Characteristics other than patent such as individual effects of "administrative judge", "type of industries", and "nationality of the firm" affect the decisions.
Second I investigate the relationship between firm value and intellectual property rights. Pharmaceutical firms consist of two types of assets. One is "tangible assets" like PPE (properties, plants, and equipments), the other is "intangible assets" like patents. Value of the latter consists of "option value" because the firm needs to invest in research and development to transform technology to commercial products. I estimate the value of pharmaceutical firms and relate it to option value of patent.
Third I study the roles of universities and non-profit research institutes of Japan. Productivities of R&D of firms depend on social-infrastructure in which academic research is carried out. Although this role is widely publicized, there is only limited number of empirical studies to evaluate impact of academic research on commercial research. By using patent data on pharmaceutical and biotechnology, I evaluate the roles of non-profit research institutes, and how their technology is transferred to firms and other industries.