Chapter 5: Knowledge creation and the research and development process
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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