HIGHLIGHTS
SUMMARY
Scholz emphasizes that-due to the increasing scarcity of raw materials that posit severe capacity constraints, especially for small firms-licensing agreements that delegate production (or part of production) to other firms are becoming widespread. In many cases the innovator is a small firm with limited production possibilities, which licenses its innovation to other firms. Pavitt et_al, by analyzing the size distribution of innovating firms in UK after the Second World War, show that smaller firms are more likely to commercialize innovations than are bigger firms. The authors consider three licensing policies: (i) Unit . . .
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