Structuring Public–Private Research Partnerships for Success

Structuring Public–Private Research Partnerships for Success

Empowering University Partners

Gordon Rausser, Holly Amedon and Reid Stevens

As funding for universities and governmental research units has declined, these institutions have turned to the private sector to augment their research and development budgets. This book presents a framework for structuring public-private research partnerships that protect both these institutions’ academic freedom and the private firm’s corporate interests. This formulation is developed using insights originating from the incomplete contracting and collective decision making literatures. The book presents a number of template designs for a variety of research partnerships.

Chapter 5: Knowledge creation and the research and development process

Gordon Rausser, Holly Amedon and Reid Stevens

Subjects: economics and finance, financial economics and regulation, public finance, public sector economics, politics and public policy, public policy

Abstract

In this chapter, we pivot from abstract models to knowledge creation and the research and development process. We present a framework for knowledge assets, how the Bayh–Dole Act affected intellectual property rights, the markets for science and technology, how to capture value from knowledge assets, and the relationship between intellectual property and market structure. Both the theoretical and empirical literatures on the knowledge generation process are shown to have important implications for public–private research partnerships.

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