Topic: Corporate venture capitalists and the sale of patents
Speaker: Associate Professor Dennis Haemin Park, Naveen Jindal School of Management, University of Texas at Dallas (UT Dallas)
Date and time: May 9, 10:00–11:30
Venue: Room 501, SEM
Host: Hong Suting
Abstract:
Markets for technology are riddled with a high degree of uncertainty and economic agents within and outside a firm may have different resources and preferences influencing a firm’s likelihood to participate in such markets. We consider how corporate venture capitalists (CVCs) influence a startup’s participation in the markets for technology by selling its patents. We find that, compared with startups backed solely by independent venture capitalists (IVCs), those backed by corporate venture capitalists (CVCs) are less likely to sell their patents. We consider various factors, including complementary assets provided by corporate investors, competitive dynamics between corporate investors and startups, and patent specificity and external citations to explore the theoretical mechanisms of how corporate investors influence a startup’s likelihood of selling its patents. Our results provide novel insights into how the resources and preferences of corporate investors can play important roles in a startup’s intellectual property (IP) management strategy.
Biography:
Dennis Haemin Park is an Associate Professor of Innovation and Entrepreneurship at the Naveen Jindal School of Management at the University of Texas at Dallas. His research focuses on how external resource acquisition strategy of technology-based ventures influence their development and performance. He has published his research in journals including Academy of Management Journal, Entrepreneurship Theory & Practice, Journal of Business Venturing, Journal of Management Studies, Journal of Management, Journal of Product and Innovation Management, Organization Science, Research Policy, Review of Finance, Strategic Entrepreneurship Journal, Strategic Management Journal, Strategy Science, and others. He currently serves as an Area (Associate) Editor of the Journal of Business Venturing and on the Editorial Review Board of the Strategic Entrepreneurship Journal.